Torrid U.S. Car Sales Pace Slowed in September
U.S. auto sales in the third quarter were the best in eight years, but mixed September results from leading automakers on Wednesday indicated the industry’s torrid summer pace is slowing, reported Reuters. Industry sales in September rose 9 percent, to 1.24 million vehicles, according to research firm Autodata, just missing expectations of nine analysts surveyed ... Read More »
U.S. auto sales in the third quarter were the best in eight years, but mixed September results from leading automakers on Wednesday indicated the industry’s torrid summer pace is slowing, reported Reuters.
Industry sales in September rose 9 percent, to 1.24 million vehicles, according to research firm Autodata, just missing expectations of nine analysts surveyed by Reuters. The annualized sales rate slowed to 16.4 million, according to Autodata, above last year’s 15.4 million, but well below the 17.5 million pace in August.
“The rate of growth in industry sales is beginning to moderate,” Ford chief economist Emily Kolinski Morris said on a conference call. “We are getting closer to what would be a likely plateau in terms of the industry sales pace.”
General Motors Co, Fiat SpA’s Chrysler Group, Toyota Motor Corp, Honda Motor Co, Nissan Motor Co and Hyundai Motor Co all reported year-to-year sales gains on Wednesday, but Ford Motor Co said sales fell slightly from a year ago. And while Toyota’s and Honda’s sales were up, both companies missed analysts’ forecasts.
Third-quarter sales were “the best for the industry since 2006,” said Bill Fay, Toyota division group vice president and general manager.
In September, Ford sales fell 3 percent, to 180,175, as the automaker slowed production of the F-150 pickup truck, the best-selling vehicle in America, to prepare for the launch of the redesigned 2015 model. Analysts surveyed by Reuters expected a similar decline.
F-150 sales dipped 1 percent, with Ford’s small cars and crossovers showing bigger declines. Ford’s Lincoln brand jumped 13 percent, bolstered by the new MKC compact crossover.
GM sales increased 19 percent, to 223,437, about what analysts predicted. The automaker’s full-size Chevrolet Silverado and GMC Sierra pickups soared 47 percent to 66,939. GM’s premium Cadillac brand was flat.
Chrysler said sales rose 19 percent, to 169,890. Analysts expected a 17 percent rise. Its Jeep and Ram brands were up 47 percent and 35 percent, respectively, but sales of Jeep Grand Cherokee fell 14 percent.
Toyota sales increased 2 percent, to 167,279, but analysts had forecast a 7 percent gain. The company said SUVs and crossovers helped to drive its results. Toyota’s premium Lexus brand was up 7 percent.
Honda sales were up 7 percent, to 118,223, versus analysts’ expectations of a 15 percent hike. The mid-size Accord sedan helped drive sales, with a 25 percent gain, but Civic sales dropped 7 percent. Honda’s premium Acura brand was up 14 percent.
Nissan sales climbed 19 percent, to 102,955. Analysts looked for a 15 percent increase. The company’s premium Infiniti brand fell 13 percent, while sales of the Nissan Leaf electric car jumped 48 percent.
Some analysts were concerned that generous consumer deals, including hefty discounts, low lease rates and zero-percent financing, are stealing demand from the future.
Jessica Caldwell, senior analyst at Edmunds.com, the car shopping website, had a different take: “Automakers have struck the right chord by putting more emphasis on leases and opening credit to a larger cross-section of buyers. Expect the same trends to continue through the end of the year.”
On Tuesday, reports showed U.S. consumer confidence fell in September for the first time in five months, and home prices in July rose less than expected from a year earlier, underscoring the unsteady nature of U.S. economic growth.
More Industry

Nebraska Rooftop Changes Hands
The Gregg Young Automotive Group has sold its second dealership to Janssen Auto Group, both in Plattsmouth, Neb.
Read More →
Penske Auto Group Deal a Record
The deal to take the dealership and transportation services company private sets a new pace for industry buy-sell transactions.
Read More →
War Toll a Damper on Used Auto Prices
Cox Automotive found wholesale depreciation to be elevated in September amid high fuel prices and this year's unusual hurricane season.
Read More →
Bridge the Maintenance Gap
With many drivers missing recommended maintenance, service departments offering transparency and efficiency have a better chance of reaching financially strained consumers.
Read More →
California Store Has New Owner
The longtime dealership in the northern part of the state is known for robust fleet sales and has served the state capital for 115 years.
Read More →
BMW Plant Pursues Cleaner Energy
BMW Group Plant Leipzig has utilized hydrogen to help power its production since 2013, but a new pipeline is planned to take it to another level.
Read More →
Auto Affordability Inches Up
The latest Cox Automotive and Moody’s Analytics index shows a slight increase in new-vehicle affordability despite high prices.
Read More →
Ohio Auto Group Under New Ownership
After 79 years with the Schluter family, Mansfield Auto Group has been acquired by Missouri-based Clement Auto Group.
Read More →
RV Group Expands Carolina Footprint
Blue Compass RV Columbia Northeast is the 13th RV dealership owned by Blue Compass in the Carolinas.
Read More →
Agent Acumen
An Agent Summit panel of people who’ve been supporting auto dealers for years gave both timely and timeless advice for those starting out or mulling the prospect.
Read More →