News Summary: US auto sales up 14 pct in July

News Summary: US auto sales up 14 pct in July as small cars surge

Associated Press

JULY SALES: U.S. auto sales rose 14 percent to 1.3 million in July. Pickup trucks were strong, and have been all year. But cars also surged. Small car sales usually peak in the summer, and low interest rates and good lease terms are fueling sales.

WINNERS AND LOSERS: Subcompact and compact cars like the Chevrolet Spark, Ford Fiesta and Honda Civic saw big gains. Honda had the biggest sales increase of major automakers, at 21 percent. Volkswagen was down 3 percent.

WHAT'S NEXT: The improving economy could push full-year U.S. sales to 16 million for the first time since 2007.

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