July 2008 Sales International Brands Sink to 17 Year Low

Washington DC August 2, 2008; The AIADA reported that as predicted, July’s auto sales numbers, released by carmakers today, hit lows not seen in the United States since 1992. Overall sales, unadjusted for business days, were down 13 percent from July 2007, and 4 percent from June 2008. Analysts blame the usual suspects: skyrocketing fuel prices, tight credit, and a rising U.S. unemployment rate. The trend toward affordable, fuel efficient vehicles continued in July, with vehicles categorized as "lower small," like the Toyota Yaris, jumping 35.2 percent from July ’07.

SEE CHARTS BELOW

International makes once again took six of the top 10 vehicle sales positions in July. Interestingly, despite gas prices, the Ford F-series took back its number one spot from the Toyota Corolla, and Chevrolet’s Silverado pickup moved up on spot to number five.

Nissan the Month’s Lone Winner
Nissan was the only major brand to get an uptick in sales through July. According to numbers from Auto Data Corp., the Japanese automaker saw a 9.9 percent sales increase from the same time one year earlier. Year to date, Nissan’s sales are down 0.6 percent. Meanwhile, Honda, which many analysts predicted would see sales growth this past month, stayed flat, slipping just 0.6 percent from July ’07 and remaining in the black year to date, with sales up 5.5 percent. One of Honda’s greatest success stories in ’08 has been the sales of its compact Fit, which have jumped 93.4 percent from 6,343 to 12,266.

Both Nissan and Honda can credit their relative good fortune to their decision to stay out of the truck and SUV market. 
 

International car dealers saw an increase in sales over last month. For the month of July, Asian car sales increased by 4.2 percent and European car sales increased by 4.0 percent. Truck sales from the month before are down by over 30 percent for the Detroit Three with international truck brands declining 17 percent for Asian manufacturers and 21.4 percent for European manufacturers.

International Makes Increase Market Share
Asian nameplates increased their market share in the U.S. to 49 percent in July, well above the 42.7 percent held by domestic carmakers. In June 2008 the margins were closer, with Asian nameplates taking 46.2 versus the domestic’s 45.8 percent. European automakers have remained steady at about 8 percent. 

International dealers sold 165,598 more vehicles than their domestic counterparts in the month of July. July sales are up slightly over last month for the international industry, resulting in an increase of 6,154 more vehicles sold, despite a slower economy and high gas prices.

See below for a complete breakdown of July 2008 monthly and year-to-date sales by international nameplate.