U.S. Auto Sales -- One of the Keys to TV Station Profits -- Rebound in August, Capping a Strong Summer Automotive News
Local TV stations got good news from the automotive marketplace, where U.S. auto sales, one of the key drivers of revenue for stations via auto advertising, rebounded in August, Automotive News reports.
Among the highlights reported by the publication:
-- Total sales in August of 1,501,294 units -- the highest unit count in 75 months.
-- A seasonally adjusted annualized selling rate of 16.1 million -- the best since November 2007.
-- A 17% increase from a year earlier -- the biggest since August 2012.
-- Sales of Detroit 3 large pickups rose 22%, leading all three automakers to double-digit gains.
In a conference call, Toyota brand general manager Bill Fay said: "August capped a solid summer for the industry. While we've seen fluctuations in some economic indicators, one thing has remained consistent: the overall strength of the U.S. auto industry."
The report adds: "Not only have automakers sold more light vehicles in the first eight months this year (10.6 million) than in all of 2009 (10.4 million), but last month's 1.5 million sales topped the unit volume of every August since -- get this -- 2003."
The story also cites the following highlight: "Clean sweep for Detroit brands. Every Detroit 3 brand recorded higher sales in August, the first time in 12 months that all 11 domestic divisions rose in unison. Ford's Lincoln and Chrysler's Fiat eked out a 1 percent increase. General Motors' Cadillac led all domestic brands with a 38 percent gain, with Buick close behind at 37 percent."
Among the major players, only Volkswagen Group of America and Hyundai-Kia America failed to post double-digit August sales increases over a year ago -- when volume was also strong for both companies, the report notes. For August 2013, Volkswagen was up 4% and Hyundai-Kia rose 6%.