Asian auto makers sharply lifted their USA market share last month due to a trend towards smaller vehicles under the cash-for-clunkers scheme and consumers’ continuing concern about the health of General Motors and Chrysler. Toyota reported a 6.4% sales increase from a year earlier, bringing it within 21,000 vehicles of GM, which has held the # 1 spot for decades. The cash-for-clunkers scheme pushed GM’s sales up by 30% from July, but they remained a 5th lower than August 2008. Among other Asian auto makers, Honda’s sales reached an August record, while Hyundai reported a 47% surge and Subaru posted its best month ever. By contrast, Chrysler’s sales were a modest 5 per cent higher than July, leaving them 15% below August 2008. The smallest Detroit auto maker, now controlled by Italy’s Fiat, was handicapped by low inventories having shut all its assembly plants during its court-supervised restructuring in April and May. Ford Motor, which has also benefited from its Detroit rivals’ financial woes, gained 17% from a year earlier.
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