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Posts Tagged ‘September 2011 car sales’

Preliminary Signs September Car Sales Soared – But So Did Incentives

Givebacks atyear’s highpoint; transaction prices plummet.

by on Oct.03, 2011

With supplies low on models like the Elantra, Hyundai was one maker able to slash incentives last month.

While only a handful of manufacturers have so far released their September sales numbers, the figures could provide some rare good news for an economy teetering towards another recession.  General Motors Co., Chrysler Group and Volkswagen have all reported double-digit sales increases for September despite the uncertain economic climate that has prevailed during the last few months.

VW led the way with a 36% sales increase, while Chrysler reported a 27% increase and GM said its sales increased 20% compared with September 2010.

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But there appears to be a downside: industry analysts are reporting that it appears incentives surged to their highest levels in a year, while transaction prices – what consumers actually pay for a specific vehicle – slumped sharply.

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September Sales Steady Despite Double-Dip Recession Fears

Market showing “unexpected strength.”

by on Sep.28, 2011

A strong Labor Day helped boost Sept. sales.

Despite economic turmoil and increasing fears of a double-dip recession, sales of new vehicles continued to hold steady during September, according to preliminary industry estimates.

For September 2011, new light vehicle sales in the U.S., including fleet, are expected to be somewhere between 1.04 and 1.06 million units, depending on whose data you trust.  Either way, that would bring a roughly 10% jump from year-earlier numbers.

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While “The uncertain global environment, specifically the debt troubles in Europe, continue to be the major source of downside risk” to the U.S. economy and auto sales, in particular, said John Humphrey, chief of automotive operations at J.D. Power and Associates, his associate Jeff Schuster found that, “Coming off a solid Labor Day sale, retail sales exhibited unexpected strength in the second week of September, as the recovering inventory levels have helped to bring buyers back into the market.”

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