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Posts Tagged ‘october auto sales’

New Vehicle Buyers Gobble up Trucks, SUVs, Luxury Cars

Lower gas prices contribute to strong sales.

by on Nov.03, 2014

Audi was among many automakers that reported October sales increases.

The sales numbers from October have given carmakers a renewed sense of confidence that sales will remain strong in the months to come as consumers continue to buy more trucks, utilities and luxury vehicles.

A long string of carmakers reported increased sales during October among them Subaru, Chrysler Group, Audi, Nissan, Mercedes-Benz, BMW, Toyota, Acura, Honda, Hyundai, Volkswagen, Kia and GM all reported sales increases for last month.

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“October vehicle sales were the best for the month in 10 years as an improving economy and lower gas prices drove strong SUV sales,” noted Bill Fay, Toyota division group vice president and general manager, who has said that the sale outlook for 2015 is also looks positive. (more…)

Low Gas Prices Keep Sales Going in October

Trucks and fuel-efficient vehicles rolling off dealer lots.

by on Nov.03, 2014

Jeep sales were up 52% on a year-over-year basis in October. Chrysler Group sales were up for the 55th consecutive month.

New car sales, aided by falling gasoline sales and the popularity of trucks, remained robust in October with preliminary results suggesting the seasonally adjusted annual rate of sales, or SAAR, hit 16.9 million units as Chrysler, Nissan, Honda, Volkswagen/Audi and General Motors all reported sales increases for the month.

Analysts are expecting the overall sales to jump 6% and the early returns suggest they’ll be correct in that there will be another increase in purchasing. Not only did trucks perform well, but smaller cars, such as the Chevy Cruze, Nissan Versa and others also saw impressive returns.

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Chrysler Group reported the biggest overall jump in sales of the early reporters with a 22% increase compared with sales in October 2013 of 170,480 units, the group’s best October sales since 2001 when carmakers utilized an extra heavy dose of incentives to boost sales following 9/11. (more…)

October Sales Expected to Defy Economic Uncertainty

Incentives rise, and pose risks, analyst warns.

by on Oct.29, 2014

The Jeep Cherokee is selling well and is responsible of much of Chrysler Group's stellar year.

Recent big swings in the stock market and dire headlines about an economic downturn haven’t put any kind of dent in U.S. auto sales, industry analysts are predicting demand for October will be up between 5.4 and 6.0% when sales numbers are totaled up next week.

Total demand, including retail and fleet sales, is expected to reach 1.27 million vehicles, according to various forecasts. On an annualized basis, known in industry terms as the SAAR, that would work out to 16.3 million vehicles, nearly a million about the rate for all of 2013.

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“The industry continues to demonstrate strong sales growth and robust transaction prices, resulting in another record-breaking month for industry consumer spending,” said John Humphrey, senior vice president of the global automotive practice at J.D. Power and Associates. (more…)

October Auto Sales Could Be Best in Over 2 Years

Analysts anticipate best month since Cash-for-Clunkers.

by on Oct.31, 2011

The Chrysler 200 has been scoring big gains for the smallest of the Detroit makers.

If American consumers are reining in their spending that’s news to new car dealers who appear to have rang up one of the best months since the deep recession began three years ago.

Preliminary data suggests that the annualized sales rate for October could approach a relatively torrid 13.4 million to 13.6 million, an increase of as much as 15%, year-over-year – and a sign that momentum may be returning to the automotive market.

In recent weeks, industry analysts have been steadily paring back their forecasts for all of 2011 to less than 13 million.  With just two months left in the year, the apparent surge could bode well for 2012, however.

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“Consumers are no longer dragging their feet on new vehicle purchases as they feel the economy is moving in the right direction, ” said Jesse Toprak, Vice President of Industry Trends and Insights for TrueCar.com. “This will be the fifth straight month where SAAR (the Seasonally Adjusted Annual sales Rate) will rise and the highest we’ve seen in over two years.“

Since August 2009, in fact, and that month’s sales were heavily inflated by the government-funded Cash for Clunkers program.

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Signs of Recovery at GM, Asserts New Sales Chief

Economy bottomed out, adds chief analyst, but recovery slow.

by on Oct.28, 2009

New General Motors Sales czar Susan Docherty would rather fight than have you switch to another brand.

New General Motors Sales czar Susan Docherty would rather fight than have you switch to another brand.

While the recovery is just taken hold, there are positive signs in the economy, and that’s translating into some measurable gains for the post-bankruptcy General Motors, company officials declared during a Wednesday meeting with the news media.

The struggling automaker expects to gain share, when the final sales numbers are counted for October, and those cars, trucks and crossovers are rolling out of dealer lots at a higher transaction price than a year ago, said Susan Docherty, GM’s new director of sales.  Residuals – industry speak for projected trade-in values – are rising and the automaker is hoping to “dial back” on incentives, which remain the highest in the industry.

But Docherty, who assumed her new post just nine days ago, also acknowledged that GM has some significant challenges ahead of it.  For one thing, it has to improve its standing in the annual and highly influential Consumer Reports magazine survey of vehicle dependability.  In a news conference just yesterday, CR editors said that GM’s performance is “inconsistent,” at best.

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The carmaker’s mediocre performance is “one of the things that keeps me up at night,” said Docherty, who was previously in charge of the Buick-Pontiac-GMC brand group.
“Clearly, there are signs of an economic recovery from the worst recession in 70 years,” noted Mike Di Giovanni, GM’s chief market analyst, who joined Docherty for today’s briefing.  But he warned that while the worst may be over, the economy has a long way to go, and so does the auto industry.

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