September auto sales were up 13 percent compared to the same month in 2011, according to sales tracker Autodata. This is the best result in the last four years and exceeds even the most optimist analysts’ expectations.
It also raises the automotive industry sales’ Seasonally Adjusted Annual Rate (SAAR) projection to 14.9 million. SAAR is determined by dividing the unadjusted annual rate for the month by its seasonality factor, resulting in an adjusted annual rate for the month.
September was the fourth consecutive month, and the seventh month this year, that the SAAR has exceeded 14 million.
New vehicle sales have increased by 15 percent, to 10.9 million through September, with passenger cars leading with a 23 percent rise.
“The auto industry had another very encouraging month in September”, commented Toyota group vice president and general manager Bill Fay.
Fay had every right to be satisfied, since Toyota, Scion and Lexus sales were up by 41, 76 and 36 percent respectively compared to last year. The Japanese company said that its low financing options have proved to be very popular with customers, so it plans to offer them, along with low-interest rate loans, in October too.
Honda brand sales posted a 29 percent increase thanks to a 57 percent growth in demand for both the Civic and the Accord, while its Acura luxury division sales saw its sales surge by 44 percent.
Overall VW Group sales climbed by 32 percent, with the VW brand recording a 32 percent increase and Audi, which sales rose by 27 percent, is on track to score its best-ever result in the U.S. market.
Kia sales increased at an even bigger rate. The 48,105 units it delivered correspond to a 35 percent jump, which means that the Korean brand, too, will have a record year in the States, while “sister” company Hyundai posted its biggest increase since February with a 15 percent gain.
The Chrysler Group was the only one of Detroit’s Big 3 to post significant gains at +32 percent. The -so far underperforming- Fiat division has, at last, a reason to celebrate since sales jumped by 51 percent.
Even though Septemebr may have been the Pentastar’s 30th consecutive month that posted a sales increase, but it also marked the smallest rise since May 2011.
On the other hand, GM and Ford blamed falling truck sales, where both carmakers are strong, for a 1.5 percent increase and a less than 1 percent decrease respectively.
GM announced that its truck sales dropped by 20 percent, while its small passenger car sales increased by 29 percent.
Ford head of marketing Ken Czubay, stated that the Blue Oval is “on plan” and looking forward to “a really good fourth quarter”.
By Andrew Tsaousis
Story References: CNN via Autonews
PHOTO GALLERY
