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October U.S. auto sales fell 6% despite the discounts

01 Nov 2016
October U.S. auto sales fell 6% despite the discounts

Despite the increased consumer discounts on so many popular models, U.S. auto sales fell approximately 6%. The seasonally adjusted annualized rate including an estimate of sales by No. 2 U.S. automaker Ford Motor Co showed sales at 17.9 million.



General Motors Co October sales fell a less-than-forecast 1.7%. Sales of its smaller pickups and big SUVs surged while sedan sales fell. U.S. vice president of Nissan brand sales for Nissan Motor Co said favorable economic factors point to strong sales in the remainder of 2016. This year is likely to end slightly below last year's record vehicle sales. Among reasons for the October sales declines were "budget" buyers putting off new purchases or opting for used vehicles. Comparisons to last October were pressured because of two fewer selling days from a year earlier. Fiat Chrysler Automobiles NV's sales slid 10% including a rare decrease for its Jeep SUV brand, which declined 7%. Until a few years ago Honda Motor Co predominantly sold sedan and hatchback cars but last month it sold 5,000 more trucks and SUVs than cars.



Honda's U.S. sales fell 4.4% Toyota Motor Corp, the third-largest manufacturer in the U.S. market by sales, showed October sales down 8.7%.Nissan sales fell 2.2%, though sales of its SUVs and pickup trucks rose 13%. GM's two full-size pickup trucks, Chevrolet Silverado and GMC Sierra, collectively fell 7.6% GM's Chevrolet Tahoe, Suburban and GMC Yukon large SUVs collectively gained 69% versus a year ago.


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