"International dealers and automakers are going to finish strong in 2008," said AIADA President Cody Lusk. "We see nothing but opportunity in the shifting market. Today's American families are looking for fuel efficiency and value, and that is what they'll find on our lots."
International brands sold 116,863 more vehicles than the domestic brands in July, despite an overall downturn within the industry. Asian brands held a 47.3 percent share of the market, Europeans have a 7.4 percent share, and domestic brands finished the month with 45.3 percent of the market. As in July, Nissan was the only major brand to see an improvement over its year-ago numbers. The Japanese automaker reported a 14.2 percent sales increase from August 2007, and a 1.4 percent increase year to date.
Despite August's weak numbers, industry analysts saw a silver lining in the improvement over July 2008's numbers and recovering light truck sales, which were up 20.3 percent from last month. Consumer confidence is on the mend, and many believe that after 10 consecutive months of down sales, the auto industry could be due for a rebound.
