2015 Could Be The Best Year Ever For Auto Sales

General Motors Company GM reported that its October U.S. auto sales rose 16 percent year-over-year, Ford Motor Company F reported a 13 percent increase in its October U.S. sales and Fiat Chrysler Automobiles NV FCAU reported a 15 percent jump in its October U.S. sales.

The "big three" automakers led the charge with a solid double-digit sales gain, prompting industry experts to predict that 2015 will surpass 2000's all-time record of 17.41 million vehicles sold.

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Industry Has 'Passed Recovery Mode'

The Detroit News quoted Karl Brauer, a senior analyst at Kelley Blue Book, who said that the industry has "passed recovery mode," and the industry will continue benefiting from "all the key factors" – such as pent-up demand, available credit/financing at low rates and cheap gas prices at the pump.

Ending The Year On A High Note

The report added that car companies and industry analysts are predicting full-year 2015 U.S. sales to fall in a range of 17.4 million to 17.8 million vehicles, as automakers are likely to offer more holiday and year-end incentives and promotions.

Demand for trucks and SUVs continue to support the sector. In fact, the report noted that the top three vehicles sold in October were all pickup trucks, led by Ford's F-Series.

Industry truck sales in the United States rose 7.3 percent in October from a year ago, while SUV and crossover sales jumped 28.4 percent.