September another solid month for auto sales
Posted on Wednesday, October 7, 2015 at 9:25:30 AM
The auto industry is barreling toward its best year of sales since 2000 after another strong month in September.
Buyers continued to visit car lots in search of SUVs and pickup trucks last month, propelling General Motors Co., Fiat Chrysler Automobiles NV and Ford Motor Co. to double-digit percentage sales increases year-over-year. The Detroit Three each project that auto sales will top 18 million through September at a seasonally adjusted annualized selling rate, the Wall Street Journal reported.
A big month was expected, since Labor Day was included in September sales figures this year. A quirk in the calendar usually places the holiday weekend - typically a robust few days for sales - in August. Additionally, affordable gas prices and the continued movement of millennials into the workforce are propelling the search for auto financing and vehicle sales.
Pickups and SUVs continue to be the targets of consumers' collective desires. GM, for example, saw sales for its truck and SUV brand increase 24 percent in September.
Only one auto manufacturer did not have a good month through September: Volkswagen. The diesel emissions scandal the German company finds itself wallowing in ensured it did not experience the same success as others in the industry last month.