It comes as no surprise that the Cash for Clunkers (aka Cars Allowance Rebate System) provided a boost for July auto sales. It helped FoMoCo report 118,197 retail sales in July, up 9 percent versus a year ago. However, the incentive also provided a huge boost for the hybrid market (also no surprise).
According to Green Car Advisor, sales of gas-electric hybrid cars, SUVs and trucks were up 35 percent in July. By comparison, sales of conventional gasoline vehicles were up 15.4 percent for the month.
The sales increase in the hybrid market was single-handedly led by Toyota’s new 2010 Prius, which saw its first full month of sales in July. Sales of the model were up a whopping 47.5 percent for the month and were up 29.7 percent from July 2008. Toyota reported a total of 19,193 units sold.
The Lexus RX450h crossover hybrid was up more than 2.5 times its June level, while the Ford Escape hybrid SUV was up 80 percent from June. Other strong performers included the Nissan Altima hybrid, which was up 54.7 percent from June. The Ford Fusion hybrid sedan was up 25.8 percent, while the Toyota Camry hybrid was up 19.9 percent.
2010 Toyota Prius:
– By: Kap Shah
Source: Green Car Advisor