Major Automakers, Except Ford, Report Higher October U.S. Vehicle Sales

(RTTNews) - Major automakers on Monday reported strong U.S. vehicle sales for the month of October, helped by an improving economy, rising consumer confidence and lower fuel prices. General Motors Co. (GM), Chrysler Group LLC and Toyota Motor Corp. (TM) all reported higher sales for the month, but Ford Motor Co.'s (F) sales were down due to the plant changeover for the introduction of the all-new 2015 F-150.

GM, the largest U.S. automaker, said that its October U.S. sales rose 0.02% to 226,819 vehicles from 226,402 vehicles in the same month last year.

The automaker said this was its best October U.S. sales since 2007.

There were 27 selling days for July 2014, the same as last year.

For October, GM's fleet sales increased 6% from a year earlier. Commercial sales surged 30%, driven by small cars, compact crossovers and large pickups. Sales to government customers were also surged 30%. However, sales to rental customers were down 6%.

Among GM's four brands, Chevrolet sales grew 0.5% to 155,965 units, GMC sales edged up 0.8% to 38,540 units and Buick sales increased 6.5% to 18,699 units, while Cardillac sales fell 8.0% to 13,615 units.

"The U.S. economy has steadily improved all year and now we are poised for a stronger expansion backed by an improved job market, higher consumer confidence and lower fuel prices," said Kurt McNeil, U.S. vice president of Sales Operations. "We have a strong hand to play, with the industry's newest and most complete line-up of pickups and SUVs, class-leading crossovers like the Buick Encore and a wealth of new products in the pipeline."

GM's strong sales performance continued despite a series of recalls announced by the automaker recently. Also last month, GM reported an 82% jump in third quarter profit, reflecting strong operating performance in North America and China.

GM is establishing its flagship Cadillac brand as a separate business unit headquartered in New York City to pursue growth opportunities in the luxury market. Cadillac expects to introduce four new vehicles in North America in 2015.

Dearborn, Michigan-based Ford said it sold 188,654 vehicles in the U.S. in October, down 1.7% from 191,985 vehicles sold in the same month last year. For September, Ford had reported a 2.7% drop in U.S. vehicles sales.

The automaker said sales declines were expected and tied to the plant changeover for the introduction of the all-new 2015 F-150.

Ford's car sales dropped 11.5% year-over-year to 53,542 units in October and truck sales for the month fell 2.6% to 75,204 units, while utility vehicle sales surged10.3% to 59,908 units.

Sales of Ford's F-Series truck, America's best-selling truck for 37 straight years and the country's best-selling vehicle for 32 consecutive years, declined 0.6% to 63,410 units.

Ford was less ravaged by the recession than most of its peers. The company also did not have to restructure with federal assistance. The automaker has reported a profit for each of its last 21 quarters. Last month, the company reported a 34% decline in third quarter profit, reflecting lower revenue and volume.

Chrysler Group LLC, which is now a wholly-owned subsidiary of Italian automaker Fiat S.p.A. (FIATY), said its U.S. vehicle sales for October rose 22% to 170,480 units from 140,083 units in October last year, marking the 55th consecutive month of year-over-year sales. gains.

The sales growth was attributable to Fiat, Chrysler, Jeep and Ram Truck brands posting sales increases in October, with nine Chrysler Group vehicles, including the all-new Jeep Cherokee, Jeep Wrangler, Chrysler 200, Dodge Challenger, and Dodge Dart compact car, setting best ever sales records for the month of October.

"Chrysler Group is the industry's fastest-growing automaker driven in part by sales of our all-new Jeep Cherokee and Chrysler 200 mid-size sedan, and by the strong consumer demand for our award-winning Ram pickup trucks," said Reid Bigland, Head of Chrysler's U.S. Sales.

Chrysler, which was once part of German automotive company Daimler AG, emerged from Chapter 11 reorganization in June 2009 and was bought by Italian automaker Fiat in a U.S. government-brokered deal. Fiat completed the 100% acquisition on January 21, 2014.

Toyota Motor Sales, U.S.A., Inc., a unit of Japan's Toyota Motor Corp. (TM), said its October sales rose 6.9% year-over-year to 180,580 vehicles.

"October vehicle sales were the best for the month in 10 years as an improving economy and lower gas prices drove strong SUV sales," said Bill Fay, Toyota division group vice president and general manager.

Among other automakers reporting U.S. sales Monday, Nissan North America Inc., a unit of Nissan Motor Co. Ltd. (NSANY.PK), said total U.S. sales for October 2014 increased 13.3% to 103,117 vehicles. TNissan Division October sales surged 14.9% to 94,072 units, while Infiniti sales fell 1.2% to 9,045 units.

GM shares are currently trading at $31.16, down 24 cents, while Ford shares are currently trading at $13.97, down 12 cents.