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Auto Sales Jump as Hurricane Replacement Continues: Ford Sees “Plateau”

themaven.net / by Mike Mish Shedlock / Nov 1, 2017

Ford, Toyota, Honda, and Nissan reported monthly gains in the U.S., setting the stage for a strong industry finish in 2017. Economists misinterpret this hurricane-related impact with actual, ongoing strength.

The Wall Street Journal reports Auto Sales Continued Hot Streak in October.

Ford Motor Co. was the lone Detroit competitor posting an October gain, reporting a 6.4% increase compared with the same month in 2016, selling 199,698 light vehicles. Toyota Motor Corp. , Honda Motor Co., and Nissan Motor Co. also recorded year-over-year gains despite having one fewer selling day last month versus the prior October.

General Motors Co. and Fiat Chrysler Automobiles NV, however, reported declines. GM said sales fell 2% in October to 252,813 vehicles because of a decline in sales of passenger cars, reflecting a preference for trucks and sport-utility vehicles. Fiat Chrysler reported a 13% drop in sales to 153,373 vehicles in October, a decline driven by a modest fall in retail sales and a reduction in sales to fleet buyers, such as rental-car companies.

WardsAuto.com estimates overall sales fell slightly because of the disparity in reporting days, but the closely watched seasonally adjusted annual rate of sales is expected to be a robust 18.1 million, outpacing the prior October’s 17.8 million and initial expectations for a 17.5 million SAAR. Full-year auto sales through 10 months are holding close to the pace set a year ago.

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