us car sales get boost
Last Updated : GMT 05:21:58
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 05:21:58
Arab Today, arab today

from hurricane recovery

US car sales get boost

Arab Today, arab today

Arab Today, arab today US car sales get boost

Recovery in Texas and Florida from Hurricanes, selling 1.52 million new cars.
Washington - Arab Today

The US auto industry was boosted in September from shoppers replacing vehicles destroyed in major hurricanes and showed the first reversal of this year's monthly sales declines, car makers reported Tuesday.

The recovery in Texas and Florida from hurricanes Harvey and Irma, which destroyed hundreds of thousands of vehicles, helped the industry sell 1.52 million new cars, SUVs and light trucks, according to the tracking firm Autodata.

It was a dramatic reversal of the industry's fortunes, after declines in every month this year, with hurricane recovery expected to continue to fuel growth in October and even in November.

Virtually all car makers in the North American market reported a boost -- with sales up 2.7 percent from the month prior and 6.1 percent from September 2016, when auto makers experienced a record year capping seven years of growth.

"Demand across the spectrum was up," said analyst Alec Gutierrez of Kelley Blue Book, emphasizing that smaller cars and sedans, as well as popular trucks and SUVs, sold well.

- Houston a 'truck market' -

The seasonally-adjusted annual rate of sales climbed to 18.57 million, versus 17.72 million during the year-ago period, according to Autodata.

GM, the biggest US car maker, reported an 11.9-percent sales boost -- with a 17-percent jump in Chevrolet models driven by its newest crossovers.

Ford sold 21.4 percent more of its popular F-Series pickup trucks, helping lift the company's overall sales 8.7 percent.

The F-Series trucks are particularly popular in the Houston area, where Hurricane Harvey led to record-breaking flooding and more ruined cars than caused by Hurricane Irma in Florida, analysts said.

"Houston was the market that was most affected. We think it could be as high as 580,000 vehicles. And that is a truck market," Michelle Krebs of Autotrader said.

Toyota had sales growth of 14.9 percent -- with a skyrocketing 43.2 percent jump in SUV demand.

Fiat Chrysler's American arm struggled, with sales declining 10 percent due in part to what the company said was a planned drawdown of fleet deliveries to businesses and government agencies. Its Jeep SUVs sold well, however.  

Nissan reported 9.5 percent sales growth, bucking some analysts' expectations of a decline, with its popular Rogue SUV by far the strongest model in its lineup.

- 'Short-lived party' -

Analysts cautioned that the good news would not last beyond a few months, and sales would settle into a slower pace later in the year.

"We can't stress enough the impact of the hurricane," Krebs said.  "This will be a short-lived party."

Another complicating factor was shoppers replacing hurricane-damaged cars with used vehicles instead of new ones. The used car market has a lot of inventory, thanks to recently-leased cars returning to dealerships.

"There are some growing headwinds from an increasing supply of gently used vehicles," said economist Charlie Chestbrough of Cox Automotive, the parent company of Kelley Blue Book and Autotrader.   

"The availability of these lightly used vehicles is likely holding down new car sales growth."

Still, the short-term growth in September significantly helped almost every brand in the American market.

Asian brands Honda, Kia and Mazda reported gains, with Honda's Civic sedan bucking the SUV trend to power a 6.8 percent sales boost. Kia's Forte sedan was also a strong seller.

European car makers had mixed results. VW brand vehicles gained 33.2  percent, while Mercedes-Benz slipped 2.2 percent and BMW was down 0.4 percent, including sales of its MINI brand.

FCA US's Fiat lineup of small cars continued to struggle, with sales dropping by 24 percent.

Electric car maker Tesla, which does not break out monthly figures, reported Monday a 4.5 percent increase in third-quarter deliveries compared to the year-ago period, despite a production "bottleneck" affecting its highly-anticipated mid-priced Model 3 sedan.

Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

us car sales get boost us car sales get boost

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

us car sales get boost us car sales get boost

 



Arab Today, arab today Modern colorful bedroom renovation

GMT 11:23 2017 Thursday ,21 December

Modern colorful bedroom renovation
Arab Today, arab today For the Variety of Interior Design Styles

GMT 11:14 2017 Tuesday ,19 December

For the Variety of Interior Design Styles

GMT 10:45 2016 Tuesday ,20 September

Typhoon Malakas slams into Japan

GMT 16:59 2016 Thursday ,08 September

Newton makes landfall again in Mexico after killing 2

GMT 11:58 2014 Monday ,08 December

GCC markets monthly report

GMT 07:02 2017 Saturday ,25 February

Actress Hend Sabry seeks roles diversity

GMT 07:11 2017 Wednesday ,11 January

Boy's head caught in between car window

GMT 12:21 2016 Tuesday ,06 December

Visit Heritage sites in Dubai

GMT 07:53 2017 Friday ,24 November

To Debate Ethics of Euthanasia

GMT 19:58 2016 Thursday ,29 December

Dollar exchange rate stable at key 4 banks

GMT 03:39 2017 Monday ,05 June

Saudi, Bahrain cut ties with Qatar

GMT 18:06 2017 Tuesday ,17 October

Three companies offering to search for MH370

GMT 22:33 2017 Thursday ,30 March

Oil Prices Rise in Asia

GMT 09:12 2017 Wednesday ,29 March

Sudan condemns terror plot

GMT 03:24 2017 Saturday ,05 August

December22nd-January20th

GMT 10:00 2018 Wednesday ,28 November

IOF besiege school in Bethlehem to arrest a student

GMT 18:50 2016 Tuesday ,13 September

Taxi firms raise prices by 50% on Arafat day

GMT 06:50 2018 Sunday ,07 January

John Young, who set records in space

GMT 13:55 2018 Monday ,01 January

Dubai rings in New Year with laser spectacular

GMT 21:00 2016 Monday ,05 September

Turkey sends more tanks into Syria's Raii

GMT 09:50 2014 Friday ,06 June

August 23 - September 21

GMT 07:36 2017 Thursday ,14 December

6,700 Rohingya killed in first month of Myanmar violence

GMT 09:36 2016 Thursday ,02 June

English football clubs surpass £4bn mark
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday