The election is really heating up with the DNC coming to end tonight with President Obama giving a grand speech to excite his base to come out and vote for him come November. It’s right on the heels of Republicans making the case for electing Mitt Romney. Part of that case rests on the President’s handling of the auto bailout years ago. He’s received both praise and criticism for the act, but it’s hard to argue with the end result of the auto industry seeing the best sales they have had in years. In what maybe some great news for President Obama and bad news for Romney, August’s numbers point to the President deserving the praise for his actions on the auto bailout.
A post on Bloomberg is showing that the August auto sales saw light-vehicle deliveries at the fastest rate since the 2009 program “cash for clunkers” was enacted. The sales of the month put the industry on the path of having over 14 million sales for the year, the best year since 2007. That’s a 10 percent gain for the third year in a row, which is also the first streak of this nature since 1973.
Chrysler was at the head of the sales charge. Their sales had a 14 percent increase from the previous month. This is higher than the analyst were predicting. The higher sales are due in part to the Dodge Dart finally making it’s large splash on the nation. The sales of the hot new vehicle almost quadrupled from July’s numbers. That gives Chrysler a winning streak of upwards sales, the 29th month to do so.
Alec Gutierrez, an analyst at Kelley Blue Book, is quoted as saying, “We expect Chrysler to continue to gobble up incremental share in the compact-car segment. Chrysler is still trying to get enough selection of variety out to their dealers to satisfy demand. Their product portfolio has improved.”
Chrysler is charging full steam ahead. The monthly good news of sales still continues. Be ready to hear plenty more of the positive sales as the election heats up, the auto bailout has been at the heart of this debate and this is just more ammunition for the political machine to use.
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