New cars on a truckREUTERS/Paulo Whitaker

  • US auto-sales numbers for October will roll in
    throughout Wednesday. 
  • September was the strongest month of this year for the
    auto companies. They benefitted as people replaced cars that
    were salvaged by recent hurricanes. 
  • This bump could persist for a few more months. Also,
    end-of-year incentives for buyers could boost sales in November
    and December. 

 

Automakers on Wednesday are reporting their sales results for
October. 

They surprised
in September
with the best month of sales so far this year,
even though there were concerns that the market had hit a
plateau. Sales rose at a seasonally adjusted annual
rate of 18.57 million units according to Autodata, the first
year-on-year increase in 2017.

Analysts forecast an increase by 17.50 million in October,
down 2% year-on-year, according to Bloomberg. 

Here’s the latest: 

  • Fiat
    Chrysler
    : -13% (-12% expected)
  • Ford:
    6.4% (1.4% expected)
  • GM:
    -2.2% (-1.5% expected)
  • Nissan:
    8.4% (-5.7% expected)
  • Toyota: 1.1% (4% expected)
  • Honda: 0.9% (-2.2% expected) 
  • Volkswagen: 11.9%
  • Mazda: -8.4%

The two hurricanes that hit Texas and Florida salvaged many
cars and created the need to replace them. This bump is likely to
remain through the end of the year, adding 200,000-500,000
vehicle sales per month, according to Evercore ISI. 

Outside of this one-time boost, carmakers have benefitted
from a shift in consumers’ preference towards more profitable
pickups and crossovers instead of cheaper
sedans. 

Carmakers could get a seasonal boost from year-end product
launches and promotions around Black Friday, Christmas and the
new year.  


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