EmailAuto sales returned to their recent highs from April as the negative effects following the Japanese earthquake and tsunami -- which lowered inventory levels and elevated prices -- seem to have completely dissipated. Domestic motor vehicle sales surged in September as sales increased from 9.39 million SAAR in August to 10.04 million SAAR.
Total motor vehicle sales exceeded 13 million SAAR for the first time since April. Sales increased from 12.12 million SAAR in August to 13.10 million SAAR in September.
Domestic car sales were in-line with expectations, increasing from 3.97 million SAAR in August to 4.07 million. Domestic truck sales increased from 5.43 million SAAR in August to 5.97 million SAAR in September. The Briefing.com consensus expected September truck sales to increase to 5.5 million SAAR.
Import sales increased from 2.73 million SAAR in August to 3.06 million SAAR in September.
Led by strong sales from Chrysler Group (+27%) and General Motors (+20%, GM), total motor vehicle sales increased 10% yr/yr in September.
Other notable gains were registered by Volkswagen (+31%), Nissan (+25%), Hyundai (+14%), and Ford Motor (+9%, F).
Demand for vehicles from Toyota (TM) and Honda (HMC) continued to be weak as sales fell 18% and 8% respectively. Toyota and Honda are the only two motor vehicle companies that have seen year-to-date losses. Sales have fallen 9% at Toyota and 6% at Honda.
