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Automakers Report Robust Results for July Sales

Despite impressive results, makers fall short of predictions.

by on Aug.01, 2014

Ford sales were led, once again, by the F-150, but supported by the Fusion and Escape. The maker reported a 10% increase in July.

U.S. automakers enjoyed a strong sales month in July, but fell short of lofty analyst expectations. Toyota and Ford were the only makers to surpass predictions with increases of 11.6% and 10% respectively.

New car sales got a lift during July thanks to an improving economy, ample financing and the appeal of new products. Several companies posted double-digit sales increases, including Chrysler (20%), Nissan (11.4%), Subaru (27%), Mazda (17.1%), Audi (11.9%), Porsche (12.6%), Mitsubishi (21.4%), Land Rover (15%) and last, but not least, Maserati, which was up 315%.

News You Can Trust!

“Incentive spending in July was above this year’s average, taking transaction prices down about one percent,” said John Krafcik, president of TrueCar. “Other than GM and Nissan, every full-line automaker increased incentive spending over last year. With growing discounts and low-interest financing readily available, it’s a great time to buy a car.” (more…)

GMAC Restarts Some Leasing after One Year Layoff

GM yes, Chrysler no, on limited offers.

by on Aug.10, 2009

It's a very limited program though.

It's a limited program though.

GMAC Financial Services Incorporated is prepared to underwrite leases on new General Motors vehicles for the first time in more than a year. However, it’s not yet prepared to underwrite leases on vehicles sold by Chrysler dealers, GMAC officials confirmed.

“GMAC’s increased funding flexibility, the completion of key manufacturer restructuring and rising used car values have made leasing a viable financing option,” said Bill Muir, GMAC president.

“We will support a lease promotion by General Motors in 45 states, and may add a leasing option for other makes or models in the future. While we do not expect leasing to return to its hey-day levels across all models, it remains an attractive financing tool for certain segments, particularly new launch vehicles and select models in the luxury market,” he said.

Covered are –

  • 2009 models: Cadillac CTS, Chevrolet Malibu, Chevrolet Traverse
  • 2010 models: Buick Enclave, Buick LaCrosse, Chevrolet Equinox, GMC Acadia

“For the true lease intender, someone who wants to rotate vehicles more frequently without the need for trade-in or resale, GMAC’s new lease program is a great financing alternative,” Muir said.

GMAC also has separate lease program underway in Ohio, Michigan, New York, Connecticut and New Jersey, Muir said.

Mark LaNeve, GM vice president of sales, has said that the lack financing for leases has undercut GM’s sales in recent months.