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U.S auto sales increased 1% in August, the first time since 2007 that monthly sales figures increased versus year-ago levels, Bloomberg News reported.
Ford Motor Co., Toyota Motor Corp. and Honda Motor Co. all posted gains for the month, as the federal government’s “cash for clunkers” program brought shoppers to showrooms. While these gains were offset by sales declines for General Motors Co., Chrysler Group LLC and Nissan Motor Co., the boon created by “clunkers” pushed total industry sales to 1.26 million, a 1% increase over August, 2007 levels, Bloomberg said.
Ford’s August sales total rose 17%, while Honda sales jumped 9.9% and Toyota sales climbed 6.4%.
Deliveries fell 20% at GM, 15% at Auburn Hills, Michigan-based Chrysler and 2.9% at Nissan, Bloomberg reported.
The “cash for clunkers” program gave buyers up to $4,500 in incentives for trading in older vehicles for new, more fuel-efficient models.
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