General Motors said that the auto sales in the US at the end of the year will match, or even beat, the 1999 record of 17,8 million cars sold, the proof being the high October sales for all major automakers.
The auto industry is on a “high horse”, heading for a record year of annual sales, according to General Motors. This optimistic prediction was made on the basis of the high sales from the October reports of GM and its rivals. Hence, US auto sales could easily match the 1999 record year of 17,8 million cars sold. Last month, US sales climbed by 13,6 percent from 2014. A Reuters poll of 45 economists showed expectations of a seasonally adjusted annualized sales rate of 17,7 million vehicles for October. More optimistic, automakers reported a seasonally adjusted annualized rate of sales reaching 18,24 million vehicles. The annualized rate is followed by economists and calculated using seasonal factors supplied by the US Commerce Department that account for sales from vehicles produced in North America or overseas. “Last month was a huge one for the industry, smashing expectations and continuing its hot streak”, commented Bill Fay, Toyota’s US general manager. Toyota said that its sales rose 13 percent with SUV sales rising 20 percent and 34 percent at the luxury Lexus division.
GM sold last month 262,993 vehicles, a 16 percent boost, the best October since 2004. The second best carmaker in the US by sales, Ford, reported 213,938 units sold last month, a 13 percent climb from the same period last year. Volkswagen sold only 30,400 vehicles, well below par and Fiat Chrysler Automobiles announced its 67th straight month of year-over-year gains, with 195,545 vehicles in October, 14,7 percent up from 2014. Light-vehicle segment rose 14 percent to 1,46 million, exceeding the average estimate of 1,41 million.
The other two major Japanese automakers are also in trend with the market boost. Nissan reported an increase of 13 percent, exceeding the 9,4 percent estimates, while Infiniti went up by 23 percent. Honda sold 8,6 percent more cars in October, a record month for Japan’s third company, with the Accord sedan up 11 percent and the Civic up 15 percent.
In the following top are the best ten selling models in the US in October:
1. Ford F-Series; 2. Chevy Silverado; 3. Ram; 4. Toyota Camry; 5. Honda Accord; 6. Honda CR-V; 7. Toyota RAV4; 8. Toyota Corolla; 9. Honda Civic; 10. Nissan Rogue