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Enjoy The Ride: Edmunds Shares Data Insights From October Car Sales

RIGHT NOW Is A Great Time To Be Selling Cars!
I received a message yesterday from Edmunds.com Senior Analyst Jessica Caldwell sharing several data driven insights and observations relevant to the October 2014 new car and light duty truck sales results.
I have summarized Caldwell's report in the sections shown below... Like my headline states, after 30+ years in the car business, and having seen the automotive boom/bust cycle repeat several iterations, let me just assure those of you who haven't been through a few of these cycles, it just doesn't get much better than it is right now to be selling cars and trucks. The good news is that the circumstances driving our current boom in auto sales and gross profits seem to be sustainable for awhile. 
Imagine how those car people who let the auto industry a few years ago to sell mortgages must feel... Where does the grass look greener now you traitors to the car business?
Just Give Me The Sales Numbers!
The section below my edited summaries of Jessica Caldwell's highlights on the auto industry October sales trends contains a detailed chart showing sales results by auto manufacturer for those of you who have not yet looked at these numbers...
HIT THE GAS! - October 30, 2014 Baltimore, MD Gas Prices at the Pump:
The Effect of Lower Gas Prices on Car Sales

Everyone knows that truck and SUV sales benefit when gas prices fall. But lower gas prices are actually a tide that floats all ships. When shoppers are paying less at the pump, they have more money in the bank to save up on big purchases. So while gas prices certainly breathe extra life into the Tahoes and Range Rovers of the world, the wealth effect is just as likely to motivate shoppers to pull the trigger on all vehicles big and small.

           

Get Ready For Some Seriously Upside Down Trade-Ins In A Few Years!

The Average New Car Loan Term was 67 Months in October - The 2nd Highest Average Loan Term in History...

For better or worse, many shoppers tend to weigh monthly payments more heavily than the overall transaction price of a car, and the easiest way to reduce these payments is to spread them out over a longer period. There are inherent risks in this strategy for both shoppers and lenders, but the results have had an undeniable impact in getting more people into bigger and more expensive vehicles such as trucks and SUVs.

 

Chrysler-Fiat Is On A Roll

It must be the infusion of Italian talent (RP says)...
Chrysler is on a streak of growth that’s virtually unheard of for American auto manufacturers. The company’s renewed focus on SUVs comes at a perfect time when gas prices are plummeting and shoppers are falling back in love with large vehicles. The strategy is undeniably successful, but it’s not invincible. If there is a spike in gas prices, Chrysler’s weak small car lineup may not be able to fully absorb the blow.

                             

Just The Facts... The October 2014 Automotive Sales Facts!

Automaker

October
2014

October
2013
%
Change
2014
YTD
2013
YTD
%
Change
Acura
 15,427 14,296 7.9% 135,177 135,126 0.04%
Audi
 15,150 13,001 16.5% 146,133 127,412 14.7%
BMW
 30,602 27,574 11.0% 267,193 238,469 12.0%
Buick
 18,699 17,555 6.5% 189,463 175,058 8.2%
Cadillac
 13,615 14,792 -8.0% 141,452 148,206 -4.6%
Chevrolet
 155,965 155,214 0.5% 1,698,831 1,648,543 3.1%
Chrysler
 27,546 23,452 17.5% 250,612 261,198 -4.1%
Dodge
 41,512 45,314 -8.4% 485,469 507,148 -4.3%
Fiat
 3,725 3,674  1.4% 39,226 36,416 7.7%
Ford  179,014  184,136 -2.8%  1,988,941  2,011,956  -1.1%
GMC
 38,540 38,841 -0.8% 404,961 372,054 8.8%
Honda
 105,745 100,242 5.5% 1,146,600 1,138,424  0.7%
Hyundai
 50,081 53,555  -6.5% 607,539 601,773 1.0%
Infiniti
 9,045 9,152 -1.2% 93,925 90,071 4.3%
Jaguar
 1,007 1,515 -33.5%  12,837 13,962 -8.1%
Jeep
 55,198 36,369  51.8% 571,585 391,764 45.9%
Kia
 44,694  39,754 12.4% 489,711  456,137 7.4%
Land Rover
 3,643 4,286  -15.0% 42,067 39,645 6.1%
Lexus
 23,355 22,719 2.8% 244,038 213,479 14.3%
Lincoln
 8,883 7,131 24.6% 76,671 66,983 14.5%
Maserati
 1,203 587 105% 10,328 2,828 265%
Mazda
 18,798 19,737 -4.8% 259,751 240,228  8.1%
Mercedes-Benz
 28,593 30,069 -4.9% 261,804 245,125 6.8%
Mercedes-Benz Sprinter
 2,140 2,038 5.0% 19,925 16,978 17.4%
Total Mercedes-Benz
 30,733  32,107  -4.3%  281,729  262,103  7.5%
Mini
 5,300 5,700 -7.0% 44,488 55,335 -19.6%
Mitsubishi
 6,199  4,972  24.7%  64,564  49,953  29.2%
Nissan
 94,072 81,866 14.9% 1,072,464 942,063 13.8%
Porsche
 3,667 3,562  2.9% 39,033 35,111  11.2%
Ram
 42,499 31,264  35.9% 379,647 300,560 26.3%
Scion
 4,182 4,940 -15.3% 50,285 59,030 -14.8%
Smart
 585 513 14.0% 8,665 7,450 16.3%
Subaru
 43,012 34,483 24.7% 418,497 347,890 20.3%
Suzuki
 — 5,946 -100%
Toyota
 153,043  141,317 8.3% 1,681,045  1,594,646  5.4%
Volkswagen
 30,313 28,129 7.8% 301,187 342,962 -12.2%
Volvo
 3,972  3,919  1.4%  47,823  52,112 -8.2%
 —
BMW-Mini
 35,902 33,274 7.9% 311,681 293,804 6.1%
Chrysler Group/FCA
 170,480 140,083 21.7% 1,726,539 1,497,086 15.3%
Daimler
 31,318 32,620 -4.0% 290,394 269,553 7.7%
Ford Motor Company
 187,897  191,267  -1.8% 2,065,612  2,078,939  -0.6%
General Motors
 226,819 226,402 0.2% 2,434,707 2,343,861 3.9%
Honda Motor Company
121,172 114,538 5.8% 1,281,777 1,273,550 0.6%
Hyundai-Kia
 94,775  93,309  1.6%  1,097,250  1,057,910

 3.7%

Jaguar-Land Rover
 4,650 5,801  -19.8% 54,904 53,607 2.4%
Nissan Motor Company
 103,117 91,018 13.3% 1,166,389 1,032,134 13.0%
Toyota Motor Corporation
 180,580 168,976 6.9% 1,975,368 1,867,155 5.8%
Volkswagen Group *
 49,189  45,032  9.2%  488,621  507,784  -3.8%
Industry Total
1,281,132
1,207,516
6.1%
13,717,987
12,997,862
5.5%

* Volkswagen Group includes sales figures for Audi, Bentley, Porsche, and Volkswagen brands

** Industry total includes Automotive News sales estimates for ultra-low-volume automakers and their 1400-unit (October) Tesla sales estimate.

Views: 691

Tags: 2014, Auto Industry, Car Sales, Data, Edmunds, Enjoy The Ride, Insights, October, SAARS, Shares

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Comment by Mark Frost on November 6, 2014 at 7:59am

Jeep and RAM are killing it, but the Chrysler and Dodge brands need some help. While I think Dodge is on the right path with more performance focus, the only thing Chrysler has going for it is the fact that the Grand Caravan is dead after 2015. All of those sales will hopefully go to the Town & Country, but it's still a gamble.

Comment by Ralph Paglia on November 5, 2014 at 12:51pm

Thanks Eric... You can count on it!

Comment by Eric Hinkle on November 4, 2014 at 6:29am

Great data.  Thanks for the share...more like this.

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