Market Overview

Mixed Auto Sales Report For September


Automakers around the globe issued results for US sales in September on Tuesday.

This data is always released on the first of the month (unless the first of the month is a weekend; in that case the data is released on the following Monday) and investors are generally preparing trades ahead of this day.

Figures from Wards Automotive Group showed a seasonally-adjusted annual rate of 15.21 million units within the US, below the expected 15.6 million from auto analysts.

Below are individual auto numbers from the larger automakers.

  • Chrysler -0.7 percent
  • Ford +6 percent
  • Toyota +4 percent
  • GM -11 percent
  • Nissan -5.5 percent
  • BMW +8.3 percent
  • Mazda -6.9 percent
  • Honda -9.9 percent
  • Hyundai +1 percent
  • Mercedes-Benz +5.8 percent

General Motors (NYSE: GM) missed analyst estimates by a wide margin for sales. Buick brand sales were up 6 percent and Cadillac was up 10 percent. Chevrolet was down 14 percent and GMC was down nearly 10 percent.

The popular Chevrolet Cruze model was down 50 percent but remains up 8 percent year to date; GM expects the Cruze to continue doing well.

GM has recently introduced its all-new 2014 truck models of the Chevrolet Silverado and GMC Sierra, but there are reports that demand is outpacing supply for these trucks.

Ford's (NYSE: F) 185,146 units sold were the company's best September since 2006. Driving Ford’s success was the continued boom in pickup truck sales, with the F-Series trucks posting a fifth consecutive month of more than 60,000 sales. Small cars also did well for Ford, with the redone Fusion mid-size sedan continuing its strong year with sales up 62 percent to 19,972, and the Fiesta subcompact was up 29 percent to 5,043 units.

Chrysler (OTC: FIATY) also rode the wave of strong demand for pickup trucks and small cars. The Ram truck brand increased sales by 8 percent and the Dodge Dart increased sales by 51 percent. SUVs also contributed to a strong month with the Jeep Grand Cherokee up 19 percent and the refreshed Dodge Durango up 66 percent.

Stocks in the sector are mixed Tuesday afternoon. Ford shares are leading the group higher, up more than 1 percent. Shares of GM are down 0.5 percent while Toyota shares are down about 0.7 percent.

Posted-In: Chevrolet Chrysler Dodge Durango FordNews Retail Sales Economics


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