Automakers witnessed Booming Sales in July

Automakers witnessed Booming Sales in July

It is raining business for US automakers as their sales' gain reach a double figure, thanks to the huge discounts they have been offering their customers.

Toyota, Ford, Nissan and Chrysler all have witnessed the best July for the industry since 2006, only Honda and Volkswagen saw a declining trend.

Overall the new vehicle sales have gone up by 9% to a figure of 1.4 million, incentives have risen by 8% or about $216 per vehicle, as reported by Jesse Toprak, chief analyst for the car shopping site Cars.com.

Four automakers that have their production plants in Tennessee have declared the highest US sales in July. For example: Nissan sales jumped 11.4% while General Motors' recorded a 9.4% increase.

Same is not the case with the sales of Volkswagen that has witnessed a 14.6% drop. Stating a reason for this, Jesse Toprak who is the chief analyst for Cars.com, said that VW lacks products in SUVs, and it doesn't offer a truck in the US, so its market is less. VW won't start production of a new SUV based on the CrossBlue concept until late 2016.

Considering the low numbers, on Friday, VW reported that its global group production Chief Michael Macht is quitting immediately and until a successor is found, Thomas Ulbrich, head of production at the carmaker's main passenger-car brand, will take over duties.

Market research has stated that nationally the sales of SUVs in the US over last six months have outpaced those of sedans.

Popular Stories

Overall childhood ‘asthma epidemic’ levels off in U.S.

The overall ‘asthma epidemic’ among children has... Read More

‘UC Quits’ Working to Help California Smokers Get Rid Of Smoking

As New Year is approaching, people have already... Read More

Scientists begin Stem Cell research to find cure for Alzheimer’s

Alzheimer’s disease, the commonest cause of... Read More

New House Bill to Restrict First-Time Opioid Prescriptions

Cases of opioid abuse have been increasing and... Read More

Comcast installs DOCSIS 3.1 modem on customer-facing network in Philadelphia

In an announcement made on December 22, cable giant... Read More