Nissan sales rise 4.9 pct., bucking forecasts of down month

  • Nissan sales rise 4.9 pct., bucking forecasts of down month

Nissan sales rise 4.9 pct., bucking forecasts of down month

Ford's (F) USA auto sales tumbled last month on weak vehicle sales while Toyota Motor's (TM) sales edged up as analysts expect overall September sales to be flat. At Nissan Motor Co., too, a 19% jump in truck sales offset a 5.8% decline in cars, lifting overall sales for the month 4.9% to 127,797 vehicles.

General Motors Co. (NYSE: GM) said sales of its Silverado pickups plunged 15.5% year over year in September to 45,380 units. The company is the first of major automakers to report sales on Monday. On the one hand, sales remain near historic highs. Consumer confidence hit a nine-year high in September, according to the Conference Board's index. "Demand for a rich mix of our all-new Super Duty pickups helped boost Ford's average transaction prices by $1,100 versus a year ago, outpacing the industry's $400 average". US sales were up less than 1 percent through August, and a decline in September could push the year's totals into negative territory.

New cars also are feeling pressure from used cars because of the growing popularity of leasing. Forecasters predict Americans bought about 1.41 million vehicles in September, a roughly 2 percent decrease compared to a year ago.

Two of the Detroit 3 automakers had banner September sales in Canada. The Japanese automaker says it sold nearly 128,000 vehicles last month, a record for September.

Fiat Chrysler reported a decline of 0.9 percent, compared with the average estimate for a drop of 5.1 percent. Buyers could get $4,500 cash back on a 2016 Ford Escape or $2,000 on a 2017 Chevrolet Malibu.

September reports should show a "very, very solid month", said Bill Fay, head of US sales for Toyota's namesake brand.

Through the first ninth months of 2016, FCA's total sales of 219,658 units are down 3 percent when compared to the same time period previous year. "Everybody's trying to protect their share and, in spots, grow it". Honda reported a 0.3 percent decrease in sales for its Civic compact auto line, which had enjoyed double-digit increases through the first eight months of the year. Both the Dodge Charger and Dodge Challenger turned in double-digit percentage increases in September while the Jeep Grand Cherokee posted an 18% sales gain. Despite the drop, Ford said September was the best month of the year for F-Series retail sales.

Ford's F-Series fell 2.6 percent compared to a year ago.

FCA US LLC reported a 1% decrease compared with sales in September. The company's auto sales were down 9 percent; sales of the hybrid Prius fell 23 percent, a victim of low gas prices. But SUV and truck sales were up 13 percent. The stock was up 0.40 percent at $29.04 a share.

Sales to daily rental companies fell 36% during the month.

Sales of its Lincoln Motor Co. luxury brand rose 1.8 percent.