CHICAGO, Oct. 29, 2014 /PRNewswire/ -- Cars.com forecasts October light, new-vehicle sales will hit 1,282,000 units, up 6.4 percent year-over-year and up 2.9 percent from September. A SAAR of 16.3 million is expected for the month, an increase of 6 percent from October 2013 and a decrease of 0.8 percent month-over-month. This marks the highest October SAAR since 2007.
"Lower gas prices helped fueled sales of SUVs and trucks in October," said Jesse Toprak, chief analyst at Cars.com. "Consumer demand for new vehicles remained very healthy, resulting in the best October, in terms of unit sales, since 2004. We expect this robust pace of sales to continue in the months ahead and to finish the year with 16.5 million total units sold."
Retail sales remain strong and are projected to make up 83 percent of total sales in October, down 4 percent from September and 0.9 percent from this time last year.
Unit Sales | |||
Manufacturer | October 2014 Sales Forecast | YoY | MoM |
Fiat Chrysler | 171,100 | 22.1% | 0.7% |
Ford | 182,400 | -4.6% | 1.6% |
GM | 232,600 | 2.7% | 4.1% |
Honda | 125,200 | 9.3% | 5.9% |
Hyundai/Kia | 101,800 | 9.1% | 5.3% |
Nissan | 100,600 | 10.5% | -2.3% |
Toyota | 180,200 | 6.6% | 7.7% |
Volkswagen Group | 47,400 | 6.1% | 6.5% |
Total | 1,282,000 | 6.4% | 2.9% |
Market Share | |||
Manufacturer | October 2014 Sales Forecast | Sep-14 | Oct-13 |
Fiat Chrysler | 13.3% | 13.6% | 11.6% |
Ford | 14.2% | 14.4% | 15.9% |
GM | 18.1% | 17.9% | 18.8% |
Honda | 9.8% | 9.5% | 9.5% |
Hyundai/Kia | 7.9% | 7.8% | 7.7% |
Nissan | 7.8% | 8.3% | 7.6% |
Toyota | 14.1% | 13.4% | 14.0% |
Volkswagen Group | 3.7% | 3.6% | 3.7% |
About Cars.com
Launched in 1998, Cars.com is a leading independent research site for car shoppers with approximately 30 million visits per month. The Chicago-based company provides shoppers with credible and easy-to-understand information from consumers and experts. Leveraging its growing audience, Cars.com informs digital marketing strategies through consumer insights and innovative products, helping automotive dealers and manufacturers more effectively reach in-market car shoppers. Cars.com is owned by Gannett Co., Inc. (NYSE: GCI). For more information, visit www.dealers.cars.com.
SOURCE Cars.com
