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The Auto Sales Surge

July 15, 1993

Powered by a burst of sales of U.S.-made cars, 1993 is shaping up as a year of recovery for the American auto industry. Through the end of June, domestic car sales reached almost 5.9 million, with import sales nearly 1.1 million.

Auto makers in the U.S. are gaining strength...

U.S. retail sales of cars and light trucks in millions of vehicles Source: Auto companies, American Automobile Manufacturers Assn.

The average age of cars on the road is more than eight years, the highest since the end of World War II. Source: R.L Polk & Co.

Rates charged for new car loans by commercial banks have fallen 1.3 percentage points in the last 12 months and now at are their lowest point in more than two decades.

Source: Federal Reserve Board

The result? Hot sales for competitively priced cars.

Some of the best-selling cars carry attractive leasing terms or are value priced. GM, for instance, made the 11-year-old Chevy Cavalier a hot seller by lowering the price and adding options as standard equipment.

Top selling cars in 1993 (through June)

1. Ford Taurus: 173,819

2. Toyota Camry: 149,499

3. Chevrolet Cavalier: 146,499

4. Honda Accord: 133,005

5. Ford Escort: 128,482

6. Honda Civic: 128,273

7. Pontiac Grand Am: 124,828

8. Saturn: 119,371

9. Chevrolet Lumina: 118,114

10. Ford Tempo: 113,900

Source: Auto companies, Ward's Automotive Reports

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