Auto Market Trends for the month of August has just pulled up a momentum gain. There are two factors play important roles; the Cash for Clunkers and its incentive based impact on those Auto Makers which do have good fuel mileage consumption cars. The smaller the model the more fuel-efficient it is, thus the higher incentive of up to $4,500 rebate towards its new car’s prices.
Auto Makers such as Honda and particularly Toyota whose Hybrid models have been snapped in by car consumers and quickly absorbed into its market segment; both makers are subsequently turning to Hybrid for even their upscale brands to strengthen further market leadership. Lexus for example and recently Honda incorporated its Accord Crosstour with Variable Cylinder Management (VCM) system, which enabling its engine to shut off two or more cylinders depending on driving requirements (i.e. whether for city driving, uphill/downhill driving or highway driving). The VCM results in an increase of up to 4 MPG in highway fuel economy, and should be even more savings on city driving.
Most car buyers turned in their trucks and sport-utility vehicles (which accounts for more than 80 percent) for trade in on compact cars. The Car Allowance Rebate System or CARS dubbed as the “Cash for Clunkers” has contributed the top sales of Ford Focus as the top-selling new car followed by Toyota Corolla, Honda Civic, Toyota Prius and Toyota Camry. Hyundai was also reported to assumed significant sales growth.
Especially, Ford has enjoyed significant increase sales on its Focus and Escape the small sport utility vehicle by 56% and 49% respectively. The overall US car sales figures topped 1.3 million units in August, a roughly 30 percent increase from July. Recall that earlier I have presented figures on various regional Auto Markets across the globe; where the market in China surpassed US sales in last July as well as the prevailing condition of other market in Australia, Japan, Indonesia and so forth.
A well worth point to mention as evidenced by the above last link; very few luxury market segments have continued sales increase despite of economic turmoil regardless. The peculiar inelastic market behaviour for the S-Class Mercedes Benz by mere 373 S-Class units sold had increased its market share up to two points into the 10th leadership rank in the luxury Indonesian Auto Market segment. Elsewhere the exotic and rare Audi R8 as its first production car to use all-LED headlights with 54 light sources for each headlight; this Audi R8 has also continued growth rate increase from 4% to 5.2% on March 2009 YTD in Europe!
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