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U.S. October Auto Sales Maintain Strong Trend

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U.S. auto sales in October continued along the elevated course shown earlier in the year, gaining support from lower fuel prices and attractive financing.

General Motors Company (NYSE: GM) posted just a 0.2 percent gain for the month to 222,819 vehicles. But the rate was enough to constitute GM's best October performance since 2007.

"The U.S. economy has steadily improved all year and now we are poised for a stronger expansion backed by an improved job market, higher consumer confidence and lower fuel prices," according to Kurt McNeil, GM's U.S. vice president of sales Operations.

GM closed Monday down nearly 1 percent at $31.18 a share.

Ford Motor Company's (NYSE: F) sales fell nearly 2 percent to 188,654 vehicles. Ford said the decline was expected because of retooling for the launch of its 2015 aluminum-body F-150 pickup truck.

Ford's Fusion October sales totaled 22,846 vehicles, an increase of 5 percent, representing the car's best-ever October sales performance.

Ford closed down Monday also by nearly 1 percent at $13.99 per share.

Chrysler Group LLC, part of Fiat Chrysler Automobiles NV (NYSE: FCAU) sold 170,480 vehicles, its best October performance in 13 years, including a gain of 51.7 percent for Jeep sales and a 36 percent increase for Ram Trucks.

Toyota Motor Corp's (NYSE: TM) sales for the month gained nearly 7 percent to 180,580 vehicles, including a 2.6 percent improvement for its sport utility vehicles.

Toyota's American Depositary shares closed up about 0.5 percent at $122 a share.

Honda Motor Co Ltd (NYSE: HMC) sales rose 5.8 percent from a year ago, to 121,172 vehicles, partly on the strength of its Accura sedan sales.

Honda gained about 1 percent Monday, closing at $32.40 a share.

Nissan Motor Co Ltd's (OTC: NSANY) Nissan-branded vehicles sold 94,072 units, up nearly 15 percent from a year earlier, while Kia Motors Corporation (OTC: KIMTF) sold 44,694 vehicles in October, up more than 12 percent from a year earlier.

Nissan gained 0.8 percent, closing at 18.60 a share, while Kia was unchanged on the U.S. over-the-counter market.

Posted-In: News Retail Sales

 

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