BMW, Hyundai, Kia, Subaru, Honda, Nissan shine in Oct. sales gains, Toyota falls 4%

In a sign that consumers are gaining confidence, most automakers posted solid gains in U.S. sales, bringing the industry to its strongest performance in over a year. Industry demand jumped 13% in October from the year previous, and sales through October are up 11 % from last year”s 27-year low.

“Consumers who have a job are feeling a little bit better and not fearing every Friday anymore,” said Rebecca Lindland, an analyst at researcher IHS Automotive. They feel like the worst is over and they’re starting to trickle back into showrooms.”

Ford posted a 15% increase in October sales, and Chrysler, Nissan, Honda, and Hyundai-Kia all outpaced Ford. Toyota was the only major automaker to fall, as they decreased by 4%. The U.S. sales rate topped 11 million since March, a rate above 12 million would be a strong indicator of a good fourth quarter.

General Motors sales were up 4 percent, beating analyst predictions.

– By: Stephen Calogera

Source: Automotive News (Subscription Required)