U.S. auto sales rebound after weak spring
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Demand for passenger cars amid high gas prices drove U.S. sales increases in May for General Motors Corp., Toyota Motor Corp. and Nissan Motor Co. as industrywide sales rebounded slightly from a weak spring.
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General Motors Corp. said sales in August grew 3.9 percent from a year ago, boosted by new car introductions and remodeled sport-utility vehicles. It was the beleaguered auto giant's first year-over-year sales increase since January.
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Retail sales posted a surprising rebound in January following a dismal December, although much of the strength reflected rising gasoline prices. Economists saw the increase as a temporary blip rather than a sustained recovery.
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US car and truck sales are likely to rebound in December from a disappointing November, but the bulk of the gain is expected to come from Asian automakers, analysts said.
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WASHINGTON -- Shoppers put aside worries about the slumping economy to go to the malls and auto dealerships in January. That propelled retail sales to a surprising rebound following a dismal December.
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Orders to U.S. factories for manufactured goods rebounded in May following a big decline in the previous month as strengthened demand for petroleum and chemicals offset weakness in commercial aircraft and autos.
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The economy grew at an annual rate of 3.7 percent in the summer as a big rebound in auto sales offset weakness from an exploding trade deficit, soaring oil prices and the Florida hurricanes, the government reported Friday.
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DETROIT -- Ford's U.S. sales fell 8.1 percent in June and DaimlerChrysler slipped 1.8 percent while Nissan's U.S. sales rose 22.7 percent from a year ago, the automakers said Tuesday.
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Major automakers posted mixed U.S.  sales for August on Tuesday, as executives cautioned the  embattled industry was facing reverberations from a weaker  housing market and the shakeout in subprime lending.
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Strong sales of Mercedes models in the US last month helps offset a decline in German demand as VAT rises.
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U.S. retail sales outside the auto sector firmed in February, but were restrained by the housing slump and rising gasoline prices, according to a report published Monday.
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Retail sales rose more than twice as  much as expected in May, while import prices surged, adding to  recent data suggesting the U.S. economy is recovering strongly  after a slowdown in the first quarter.
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Ford Motor Co.  dropped from second to fourth in the U.S. auto market in November as its sales slid by 10 percent, while Toyota Motor Corp.'s  sales surged 16 percent to put it in the No. 2 spot.
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Major automakers posted mixed U.S. sales for August on Tuesday, as executives cautioned the embattled industry was facing reverberations from a weaker housing market and the shakeout in subprime lending.
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Lower sales may aid GM and Ford's return to profitability.
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General Motors Corp. posted an  unexpected monthly sales rise on Thursday and Japan's Toyota  Motor Co. made further market inroads as February U.S. auto  sales avoided the slump most analysts had predicted.
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WASHINGTON -- Retail sales, hurt by a big drop in auto purchases, slowed in January to the weakest performance in three months.