The U.S. auto industry sales were up 20 percent in sales led by FoMoCo, Chrysler, Hyundai, Toyota and Nissan. Overall sales rose to 982,302 from 819,692 a year earlier. The seasonally adjusted annual sales rate was 11.5 million, the second strongest of the year behind March’s 11.7 million, reports Automotive News
Ford, Lincoln and Mercury April sales totaled 162,996, up 25 percent versus year ago; retail sales were up 32 percent, and fleet sales were up 13 percent. The company reported its fifth straight month gain of 20 percent or more. Chrysler sales were up 25 percent, its first double-digit gain in almost 5 years. Nissan sales were up 35 percent and Hyundai was up 24 percent. Toyota’s incentives helped it report its second straight month of gain as well.
“We are putting the fundamentals together for a full-blown recovery,” TrueCar.com analyst Jesse Toprak said. He said that April sales showed another month in a gradual return in consumer demand.
General Motors reported a sales increase of 6.4 percent from last April.
– By: Omar Rana
Source: Automotive News (Subscription Required)