Auto News 5

This summer has been a good one for U.S. auto sales, and it peaked in August. After flirting with the 16-million-unit level in June, and receding a bit in July, the industry vaulted over that marker in August, as the annualized sales rate reached 16.1 million units. Not only was this August's pace the most torrid of 2013, it's the best since 2007. Compared to last August, automakers were up an average of 17%, when the sales rate was 14.5 million units. Once again, pickup trucks were hot (bolstered by a fast-improving housing sector), and they were joined by sizzling sales of luxury cars. A rich model mix and lower incentives made for transaction prices that were at an all-time high -- extra-good news for the industry, if not for consumers.