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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…)

Final U.S. October Auto Sales Results

A slow increase in sales sees the SAAR nudging 11 million.

by on Nov.10, 2009

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In our monthly “just the facts” chart, we publish the sales results for all makers in the U.S. Overall, October of 2009 continued a bad year as light vehicle sales declined 24% year-to-date when compared with 2008, with light trucks dropping more than passenger cars.

A straight percentage comparison could be misleading though, as the collapse of Lehman Brothers in September 2008 sent global markets into a tailspin, from which they have not yet recovered.

Prior to the financial meltdown, the U.S. auto market in 2008, though weak compared with  2007, was running much stronger than  the Seasonally Adjusted Annual Selling rate of just under 11 million units that we are all enduring as the Great Recession carries on.

While there are signs that a jobless recovery of sorts is underway, people without jobs and the larger group of worried workers, concerned about their future, are not good prospects for a new vehicle purchases.

Among the domestic makers, Chrysler remains in a tenuous position. Second tier Japanese brands – Mitsubishi and Suzuki – are taking big hits. In addition, luxury brands, said to be recession proof, are being hurt as well.

A chart follows.


GM Sales Nudge Upward in October

The "core"Chevrolet, Buick, GMC and Cadillac brands provide first increase in 21 months. Profitability remains unknown.

by on Nov.03, 2009

General Motors Company reported U.S. October sales of 177,603 vehicles, up 4% from last October, the company’s first year-over-year gain since January 2008.

Total sales increased 13% when compared with September, which was a payback month because of the post “Cash for Clunkers” binge in August and subsequent hangover. However, year-to-date GM’s total sale are off 34%.

GM’s four core brands — Chevrolet, Buick, GMC, and Cadillac – accounted for about 95% GM’s retail sales, an increase of ten percentage points compared to the prior year.

What is unknown at this point is the cost of sales, as GM continues its  60-day money back guarantee, rebate and interest rate incentive programs. The leader in the U.S. market has promised non-GAAP financial statements to it taxpayer owners by the middle of this month.

“We’re very pleased with consumer acceptance to our newest cars, crossovers and trucks,” said Susan Docherty, GM vice president, U.S. Sales. “While we have more work to do, we are making progress and will continue our focus on delivering vehicles and a sales and service experience that brings consumers to Chevrolet, Buick, GMC and Cadillac – and keeps them coming back.”


October U.S. Sales Predicted to Decline Again

However, they are "only" off single digits.

by on Oct.23, 2009

October new-vehicle retail sales are expected to decline 6% compared with one year ago–the first single-digit decline since May 2008, according to J.D. Power and Associates.

This decline marks the most significant improvement in 17 months, excluding August 2009 when year-over-year sales were up 13% due to the CARS program, according to the sometimes overly optimistic Power, which gathers real-time transaction data from more than 8,900 franchisees across the United States.

October new-vehicle retail sales are expected to come in at 651,600 units, which represent a seasonally adjusted annualized rate (SAAR) of 8.3 million units. With fleet volume down only 4% from one year ago, total sales for October are projected to come in at 816,600 units, down 6% from October 2008.

U.S. New Vehicle Sales and SAAR, October  2009

October 2009(1) September 2009 October 2008 Versus October  2008
New Vehicle Retail Sales 651,600 565,446 668,159 -6%
Total Vehicles 816,600 744,161 834,018 -6%
Retail SAAR 8.3 m 7.2 m 8.7 m
Total SAAR 10.3 m 9.2 m 10.5 m
J.D. Power and Associates

(1) Figures cited for October 2009 are forecasted numbers based on the first 15 selling days of the month.

(2) The percentage change is adjusted based on the number of selling days (28 days vs. 27 days one year ago).

It was the collapse of Lehman Brothers in September 2008, and the subsequent chaos in the world’s financial markets that led to the Great Recession, which is ongoing.