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Thursday, September 6, 2012
Car sales in August top estimates
August car sales beat industry estimates. General Motors Co., Ford Motor Co., and Chrysler all saw double-digit increases from August 2011 sales, while foreign and smaller domestic car companies also saw better-than-expected growth. Consumers paid a higher price for car, in general, and needed fewer incentives or special offers to do so. They’re not buying cheap and small, they’re buying well-equipped and small. Overall, Toprak said higher gasoline prices drove consumers to more fuel-efficient cars, while the return of small businesses drove pickup sales for the month.
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