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August 4, 2009    

US vehicle sales improve in July

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by Kay Murchie

It seems that the US Government’s Car Allowance Rebate System (CARS), branded the “cash for clunkers” scheme is proving successful after July has been the best month for sales in almost a year.

While both Chrysler and General Motors (GM) posted a fall in sales, Ford reported that sales were up 2.3% from a year ago.

Chrysler reported a fall in sales of 9.4%, while GM shed 19% during the same period. Both Chrysler and GM have received Government aid and recently went through bankruptcy proceedings.

Meanwhile, Asian car manufacturers experienced mixed US sales, with Subaru and Hyundai sales growing, while Honda and Toyota reported year-on-year falls.

The “cash for clunkers” scheme has been designed to help bring the US economy out of recession by boosting new car sales. Car owners can receive federal subsidies of up to $4,500 (£2,600) for trading in their old cars for new ones.

Similar schemes have been introduced in Europe with Germany recently reporting car sales were up 40%, while in the UK, the scrappage scheme, dubbed the “bangers for cash” scheme is also proving to be successful.

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