US Auto Makers Reported Strong October Despite Ford and Chrysler Missing Estimates

US Auto makers reported strong sales this October despite Ford and Chrysler missing estimates. US auto maker General Motors (NYSE: GM) reported a 15.7% sales growth in October, delivering 226,402 vehicles. Kurt McNeil, VP of U.S. sales operations, commented, "Chevrolet, Cadillac and Buick-GMC all performed well in the month, and the sales tempo really picked up after the government shutdown ended.” General Motors noted that Buick total sales increased 31%, Cadillac's sales grew 10%, GMC was up 16%, and Chevrolet sales grew 15%. The Cruze had the best-ever retail sales last mont, Impala retail deliveries were close to double, and Malibu sales increased 58%. Ford (NYSE: F) reported that new-vehicle sales increased 14% to 191,985. The double digit increase missed analysts' expectations that Ford would move 194,301 automobiles. Retail sales had a 15% increase, the best October retail sales since 2004. Ford Fusion and Fiesta posted best-ever October sales, and the F-Series again topped 60,000 sales. John Felice, vice president, U.S. marketing, sales and service, noted "October was simply an outstanding retail performance, as consumers continued to choose Ford for great fuel efficiency, styling and value at all levels of the market." October sales for Chrysler were up 11% versus a 14% growth estimate. This was the best October in six years, but missed expectations that Chrysler would move 143,536 autos. Chrysler new Cherokee booked 579 sales after the one-month delay needed to tune software in the nine-speed transmission. The company expects the Cherokee to drive a strong fourth quarter and hit its 2013 marks.