That slowdown in the U.S. economy didn’t seem to hurt auto sales in August as Ford Motor, General Motors and Chrysler each reported solid gains from a year ago. Ford recorded better sales across the board – in cars, utilities and trucks – for a 13% increase, and said retail sales were up 19% in August. Rising fuel prices, with gasoline up 20 cents a gallon from a month ago at a national average of $3.82 according to AAA, drew buyers toward more fuel-efficient vehicles according to Ford’s VP of sales and marketing Ken Czubay.
Rising sales led Ford to add a third crew at a Louisville assembly plant to help churn out more Ford Escapes, a vehicle that showed a 37% jump in sales versus a year ago.
The company’s popular F-Series line of pickups also had a big month, with sales up 19% year-over-year. That trend was echoed in Chrysler’s August sales report, which showed a 14% jump on the back of strong demand for the automaker’s Ram pickup.
Ford said its fourth-quarter production goal of 725,000 vehicles is up 7% from a year ago, while third-quarter production will be slightly below guidance of 690,000 vehicles.
Shares of Ford were up 1% to $9.43. GM which reported a 10% gain in sales with its retail component up 11%, was down 0.5% at $21.24.
