Toyota and Honda lead strong U.S. car sales for July
Posted on Friday, August 2, 2013 at 1:32:24 PM
The numbers are in for July, and there are positive signs for the U.S. auto market. Sales are up for the month, lead by General Motors, Honda and Toyota, and 2013 is on pace to post the best statistics in nearly six years.
Relatively affordable automotive financing has helped buyers increase sales for the top three manufacturers, as well as gains for Ford, Chrysler and Nissan, according to Bloomberg. GM saw an uptick of 16 percent, while Honda rose 21 percent and Toyota reported gains of 17 percent.
"We've got a very old fleet on the road," Jeff Schuster, senior vice president of forecasting at LMC Automotive, told the news source. "There's no question a lot of what we're seeing right now is that demand coming back."
The great month for Toyota is the first time in more than three years that the Japanese auto maker overtook Ford for total monthly sales, Forbes magazine stated.
The Camry, America's best-selling car for July, also belongs to Toyota. One of the reasons for the mid-sized sedan's great sales is auto financing?, both for buying and leasing. Bloomberg noted that a $199-a-month lease for the car has people lining up, and the market for vehicles is heating up.