Auto Industry, Auto Sales | featured news

U.S. auto sales remained soft in July and all three Detroit automakers reported sales for the month that fell slightly short of analyst estimates, as high U.S. unemployment and weak consumer confidence kept would-be buyers on the sidelines.

Japan's auto sales in June were up 41% from a year earlier as consumers rushed to collect government incentives before the money runs out.

After several years of heavily discounting their products, automakers are finding themselves back in the driver’s seat – pushing prices to record levels.

The auto industry looks set to ride the appeal of smaller cars to its best monthly performance since 2008. Chrysler reported a 34 percent increase in March auto sales.

Auto sales are growing so fast that Detroit can barely keep up. Three years after the U.S. auto industry nearly collapsed, sales of cars and trucks are surging.

U.S. retail sales rose less than expected in January as consumers cut back on car purchases and did less online shopping.

Chrysler says its U.S. sales rose 26 percent last year as its turnaround gained traction. The company ended the year with a 37 percent increase in December sales on strong demand for the Jeep Wrangler and Chrysler 200 sedan. Chrysler is among the first carmakers to report sales Wednesday.

U.S. auto sales rose sharply in November as more confident American consumers spent more on the average showroom purchase, extending a recovery trend for the industry to a sixth month.

General Motors Co and Chrysler Group reported September U.S. auto sales gains of at least 20 percent, a sign that consumers have returned as vehicle inventories have risen after being crimped by the March earthquake in Japan.

Ford's market analyst said U.S. auto sales are running at the strongest pace since April as vehicle inventories recover for Toyota and Honda.