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Market Update : 
Light Truck Sales Surge Leads Auto Sales to Record High
Author: Mukesh Buch
Last Update: 7:29 AM ET November 07 2015

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3:30 PM New York Auto sales in October continued to accelerate as buyers looked for larger vehicles and interest rate remained low. The pace of increase in light truck sales and total sales continued to outpace the demand for passenger cars. Jaguar Land Rover sales soared 76%.

Seasonally adjusted U.S. auto sales in October surged 13.6% to 1.46 million, the best October sales in a decade and second-consecutive monthly increase, and set a monthly record in a calendar year.

The seasonally adjusted annualized sales rates in October were 18.24 million vehicles.

TrueCar Inc said estimated average spending on sales incentives October increased 14% to $3,104 per vehicle compared to the same period a year ago.

The average new vehicle transaction price jumped 1.4% to $34,023, a $458 increase from a year earlier.

Chevrolet offered zero-per-cent financing for up to 72 months on a 2015 Camaro and Toyota offered cash back of $2,000 on a 2015 Avalon sedan and no-haggle prices.

Low gasoline price, incentives and lower interest rates again drove demand for sport utility vehicles and pickup trucks.

Total light vehicle sales in October soared 13.6% to 1,455,516 from 1,281,313 in the month a year ago.

In October, sale of passenger cars jumped 4.1% to 620,733 from 596,231 but light truck sales soared 21.9% to 834,783 from 685,082 in the month a year ago.

Seasonally adjusted annual sales rate in October jumped to 18.27 million from 18.17 million in September and from 16.58 million in a year ago month, according to the data released by the industry researcher Autodata Corp based in Woodcliff Lake, New Jersey.

All five largest automakers reported positive October sales.

General Motors sales surged 15.9%, Fiat Chrysler sales soared 14.7%. Sales at Ford climbed 13.4%, Toyota sales jumped 13% and sales at Nissan advanced 12.5%.

For the year so far, Fiat Chrysler sales climbed 7.2%, Nissan sales jumped 6.2%, Ford sales increased 5.5%, General Motors sales gained 5.3% and Toyota sales rose 4.9%.

Kia sales surged 22%, sales soared 19.8% at Mitsubishi and Mazda sales jumped 35.4%. Subaru sales in October advanced 20%. research team revised its 2015 annual sales estimate to 18 million.

GM Sales Soar 16%, Ford Sales Surge 13%

General Motors (GM) sales soared 15.9% to 262,993 units from 226,819. Sales of light vehicles surged 24.5% to 181,715 from 145,931 while automobile sales edged up 0.5% to 81,278 from 80,888.

For the year so far, sales jumped 5.3% to 2,562,840 from 2,434,707.

Ford Motor Company (F) said sales in September surged 13.1% to 213,105 units from 187,897 vehicles a year ago. Truck sales in the month advanced 12.5% to 151,181 from 134,355.

Sales of passenger cars soared 15.7% to 61,924 units from 53,542 a year ago month.

In October, sales of Fusion rose 3.6% to 23,668 units compared to 22,846 units a year ago.

Focus sales jumped 19.6% to 16,423 units and Mustang sales increased 121.2% to 10,096 units from 4,565 units ad sales in utilities climbed 10.8% to 66,407 units compared to a year ago.

F-Series truck sales in the month rose 3.3% to 65,500 and SUVs achieved the best October since 2004 and surged 12% to 60,786 units.

Escape sales in the month fell 0.8% to 24,719 vehicles but Edge sales surged 38.6% to 10,011 vehicles. Ford brand sales soared 14.3% to 205,453 vehicles and Lincoln sales dropped 4.5% to 8,485 vehicles.

Fiat Chrysler LLC sales in the month jumped 14.7% to 195,545 units from 170,480 vehicles and rose for the 67th month in a row.

Total car sales in the month slipped 4.1% to 38,430 units while truck sales soared 20.5% to 157,115 units from a year ago period. Jeep Brand sales jumped 33% to 73,561 units and Ram pickup sales rose 3% to 40,931 units.

Chrysler brand sales added 1% to 27,801 units and Dodge brand sales increased 12% to 46,612 units.

For the year so far, sales jumped 7.2% to 1,850,406 units from 1,726,539 units.

Honda, Nissan, Toyota Sales Soar]

Toyota Motor sales in October soared 13% to 204,045 units from 180,580 units in the same period a year earlier.

Passenger car sales jumped 7.7% to 102,138 from 94,795 units and light trucks surged 18.8% to 101,907 units from 85,785 units in the same period a year ago.

For the year, sales gained 4.9% to 2.07 million.

Honda sales in October advanced 8.6% to 131,651 units from 121,172 units a year ago period.

Passenger car sales rose 3% to 67,425 units from 65,481 units and sales of the light trucks increased 15.3% to 64,226 units compared to 55,691 units a year ago month.

Acura sales gained 4.2% to 16,079 units while sales of Accord jumped 11% to 30,121 units.

For the year, sales gained 3% to 1,320,217 units from 1,281,777 units.

Nissan Motor Company vehicles sales in September surged 12.5% to 116,047 from 103,117 vehicles in the same month a year ago. Year-to-date sales increased 6.2% to 1,238,535 from 1,166,389 vehicles.

Passenger car sales in the month added 1.5% while sales of light trucks soared 29.3% from a year ago month.

Mitsubishi Motors vehicles sales advanced 19.8% to 7,426 units compared to 6,199 units in the month of last year.

Sales for Mazda surged 35.4% to 25,451 units compared to 18,798 units in October 2014.

Subaru of America Inc sales in the month jumped 20% to 51,629 vehicles from 43,012 vehicles a year ago period. Year-to-date sales jumped 14.8% to 480,331 vehicles from 418,497 vehicles.

In the month, sales of automobiles surged 18.2% to 29,114 vehicles compared to 24,660 and sales of the light trucks increased 22.5% to 22,485 vehicles from 18,352 vehicles a year ago period.

Hyundai Motor America sales soared 19.8% to 60,005 units from 50,081 units. Sales of light vehicles surged 47.9% to 18,358 units from 12,409 units and automobiles sales gained 10.6% to 41,647 units.

Kia Motors America sales in the month jumped 12% to 50,044 vehicles from a year ago month.

Auto sales in September increased 12% while sales of light trucks surged 11.8% from in the same month a year ago.

Jaguar Land Rover Sales Soar 76%

Volkswagen Group of America Inc sales in October rose 5.2% to 48,271 units from 45,878 units a year ago period.

Audi sales jumped 16.8% to 17,700; Volkswagen brand sales edged up 0.2% to 30,387 units while Bentley sales tumbled 57.1% to 121 units. Lamborghini sales plunged 51.1% to 65 units.

Mercedes-Benz USA unit sales in October increased 3.7% to 32,472 vehicles from a year ago month.

Maybach did not sell a single vehicle in the month and sales of the Smart branded vehicles soared 23.2% to 721 vehicles from 585 vehicles a year ago period.

BMW of North America Inc sales in October declined 6.6% to 33,591 units compared to 35,969 units in the same month a year ago.

Rolls Royce sales slid 3% to 65 units from a year ago and Mini sales declined 22.9% to 4,087 units.

Jaguar Land Rover N.A. LLC unit sales in October surged 76.13% to 8,187 units from 4,650 units a year ago. Land Rover sales soared 97.6% to 7,199 units from 3,643 units.

Porsche Cars N.A. Inc sales in the month climbed 11% to 4,070 vehicles from 3,667 vehicles a year ago period. For the year-so-far sales jumped 11.1% to 43,370 vehicles from 39,033 vehicles.

Sales of passenger cars in the month plunged 22.9% to 1,708 vehicles from 2,214 vehicles and sales of the light trucks surged 62.6% to 2,362 vehicles compared to 1,453 vehicles a year ago month.

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Sources: Data collected by and from company press releases, filings and corporate websites.
Market data: BATS Exchange. Inc.

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