ARLINGTON, Va. — Automotive sales in August showed some traction, said NAFCU in its Macro Flash Report, reporting an overall increase of 1.4% to 7.3 million units (an increase of 100,000 cars). The Big Three automakers fared better still, with General Motors posting a 16.2% increase. Both Honda and Nissan sales were the same as July sales and Toyota decreased sales for the third month in a row.

Dr. Tun Wai, NAFCU's chief economist said that the solid month came despite the pressures of high energy costs, sluggish housing prices and financial market turbulence. The captives are still using incentives to boost sales, he said. Offering a caveat, Wai noted that future sales might be dampened if consumers spooked by economic uncertainty delay purchases in coming months. Overall, sales for the year are projected to be lower than a year ago, he said.