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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
car sales

August car sales: Ford and Chrysler up, GM down

By
Ben Geier
Ben Geier
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By
Ben Geier
Ben Geier
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September 3, 2014, 10:53 AM ET
Most U.S. Autos on Lots Since 2005 Has Ford Lead Output Cut
A row of 2014 Ford Motor Co. Escape vehicles sit on display at Uftring Ford in East Peoria, Illinois, U.S., on Saturday, Nov. 30, 2013. Automakers entered their year-end sales push in November with the most cars and trucks on U.S. dealer lots in eight years, a buildup thats poised to test the industrys newfound pricing discipline. Photographer: Daniel Acker/Bloomberg via Getty ImagesPhotograph by Daniel Acker — Bloomberg via Getty Images
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It was an up and down sales month for the Big Three US automakers, with Chrysler and Ford seeing gains while General Motors saw retail sales decline, though fleet sales made up some of the ground. All told, a total of 1.58 million light vehicles were sold in August, according to data from Wards Auto. This brings the year-to-date total to 11.3 million units, a 5% increase over 2013.

Chrysler was the first of the major auto retailers to report sales for August, and the manufacturer posted its 53rd straight month of year-over-year sales gains. Chrysler sold 198,379 units, the company’s best August sales since 2002 and a 20% gain from last year. Trucks were the most popular models for Chrysler, with Jeep and Ram pickups both posting huge months. Jeep had its best August ever while Ram pickup trucks had their best August since 2003.

Ford (F), meanwhile, sold a total of 222,174 units in August, a slight uptick from last year and the company’s best August in eight years. Multiple segments performed well for Ford, with the mid-size Ford Fusion posting its best August and year-to-date sales since 2005 and the Ford Escape SUV postings its best numbers ever for August and for the year-to-date. Explorers and F-Series pickups also sold well.

Which brings us to GM (GM). Overall, GM sold 272,423 cars in August, a 1% decline from a year ago. Retail sales — cars sold directly to the consumer — were down 4%, with some of that being made up for by a 9% bump in fleet sales. The bright spots for GM were in trucks and SUVs. Large SUV sales were up 38%, while the GMC Sierra and Chevrolet Silverado pickup trucks increased sales by 10% and 13% respectively.

Stephen Brown, an analyst at Fitch Ratings, said he doesn’t think GM’s problems are related to their ongoing recall scandal, instead calling it a “mix issue.” While GM continues to sell trucks, cars, especially Cadillacs, have floundered.

Foreign automakers also poster earnings today, with some seeing big jumps from a year ago. Nissan sold 134,388 units, an 11.5% jump from 2013. Toyota sold 246,100, a 10% increase. Volkswagen, though didn’t have as sunny a month. The German company sold 35,181 units in August, down from 40,342 the year before.

Brown noted that the reason sales continue to creep up is an improving economy and increasing access to low-rate financing for consumers.

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