Incentive-Backed July Marked by Milestones

It may have taken an act of Congress, but U.S. light-vehicle sales in July outperformed even the most optimistic expectations.

Bolstered by the Car Allowance Rebate System (CARS), also known as cash-for-clunkers, auto makers sold 995,402 cars and light trucks over 26 selling days last month, for a daily selling rate of 38,285 – the industry’s highest DSR since September.

Daily sales rose 11.6% from June levels and fell 12.1% compared with July 2008 for the smallest ...