Wednesday, October 4, 2017

Auto Sales Bounce Back

Led by strong truck and SUV sales and the replacement of cars destroyed by Hurricane Harvey in Texas, the auto industry posted its first monthly sales gain of the year in September. U.S. sales rose 6.1 percent to a total of just over 1.5 million vehicles.

Of the major automakers, only Fiat Chrysler and Hyundai reported sales declines. GM reported that sales rose 11.9 percent from a year ago, while Ford sales rose 8.7 percent. Toyota posted a 14.9 percent increase, Nissan sales were up 9.5 percent, and Honda sales rose 6.8 percent. Volkswagen said its sales rose 33.2 percent over numbers that were depressed a year ago by its diesel emissions cheating scandal.

Industry analysts expect sales to be strong through the end of the year, fueled by customers whose cars were destroyed by Harvey and Hurricane Irma in Florida. But that's not expected to be enough to match last year's record number of more than 17.5 million cars sold.

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