Business

Automakers See Best Vehicle Sales in August Since 2003

In this Thursday, Jan. 10, 2013 file photo, the logo for General Motors decorates the entrance at the site of a GM information technology center in Roswell, Ga. GM is recalling 2.6 million small cars worldwide to replace ignition switches that suddenly can slip out of the run position and shut off the engine.  (AP Photo/David Goldman, File)
In this Thursday, Jan. 10, 2013 file photo, the logo for General Motors decorates the entrance at the site of a GM information technology center in Roswell, Ga. GM is recalling 2.6 million small cars worldwide to replace ignition switches that suddenly can slip out of the run position and shut off the engine. (AP Photo/David Goldman, File)

 

DETROIT (Daily Finance) — August auto sales were the highest for that month in more than a decade, thanks in part to heavy discounting by the manufacturers and a strong Labor Day weekend close, with the industry selling at an annualized pace not seen since early 2006.

All the major manufacturers except General Motors (GM) reported year-to-year increases, handily topping analysts’ expectations.

August sales rose 5.4 percent from a year ago to 1,583,476 vehicles, according to a Reuters analysis. It is the highest total for the month since the industry sold 1.63 million in August 2003.

GM held on to the top spot, while Toyota Motor (TM) edged Ford Motor (F) for the second straight month.

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