Conditions were favorable for auto sales in October, and consumers took advantage. Unemployment rates and gas prices were down, while manufacturer incentives and consumer confidence were up.
Boosted by the addition of Labor Day weekend, low gas prices, and hot end of model year deals September’s sales easily surpassed analyst predictions.
Despite having one less selling day than August 2014 and losing Labor Day sales to September through a calendar quirk, August’s sales were stronger than many analysts predicted.
July’s auto sales continued 2015’s hot streak, rising to the second highest SAAR in a decade. Last month’s sales winners included Audi, up 20.8 percent; Honda, up 6.5 percent; and Kia, up 7.7 percent for a monthly sales record of 56,311 units. Light trucks and crossovers dominated the market in July with sales up 12.9 percent from a year ago. Car sales slipped 2.9 percent.
June U.S. auto sales maintained their momentum, reaching their highest June sales rate since 2005. June’s sales winners included Kia, up 6.9 percent; Nissan, up 13 percent; and Toyota, up 3.1 percent. Subaru’s sales were up 7.2 percent, driven in part by consumer demand for crossover vehicles like the Forester SUV. Leasing hit an all-time high in June, encompassing 33 percent of all sales
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