July's U.S. auto sales reports contained some good news, thanks to the cash-for-clunkers program.
Three companies -- Ford, Hyundai and Subaru -- reported actual increases from a year ago. The annual selling rate came to 11.2 million vehicles, the first month that key measurement has exceeded the depressed 10-million pace , Detroit Free Press reports.
Other automakers also appeared to benefit from the trade-in stimulus, but not necessarily to the same degree. Honda Motor Co., for example, said its sales declined 17 percent in July. That's still a marked improvement over previous months; year to date, Honda is off more than 30 percent ,Chicago Tribune reports.
Hyundai's 45,553 sales figure was up 11.9 per cent over a year earlier, with the company attributing 22 per cent of the sales to cash for clunkers. Sales of its Elantra were up 30.3 per cent from July, 2008, Globe and Mail reports.