Helped by the hefty infusion of government money into the marketplace, and a corresponding increase in showroom traffic, as well as additional manufacture rebates, the seasonally adjusted annual selling rate (SAAR) topped ten million for the first time this year.
“Sales may still be down 12% from a year ago, but they’re up 16% from June,” said American International Automobile Dealer Association President Cody Lusk. “Cash for Clunkers is a stimulus plan that works. Dealers now look to Congress to keep the momentum going by allocating additional funds to the program.”
According to numbers from AutoData Corporation, offshore brands sold 562,988 vehicles in July, up from 469,713 in June, but down from 650,887 in July 2008. Asian brands accounted for 48.7% percent of the market, up from 45.8% in June 2009. Europeans had a 7.8% market share, down from 8.8%. Domestic brands finished the month with 43.6% of the market.