Car sales continue to rise despite concerns
In spite of much talk of a fall in consumer confidence in developed nations following the recent financial volatility, and rising oil and food prices, it appears that foreign car manufacturers are not yet feeling the squeeze in the USA.
Whilst home-grown marques such as Chrysler may be suffering, BMW, Mercedes and Toyota have all reported higher sales in October.
October sales of 26,821 vehicles at the BMW Group in the USA, which combines BMW and Mini, were 9.6% higher than October last year, whilst year-to-date sales rose 8.2% to 275,094 vehicles compared with 254,297 vehicles in the same period of 2006.
Meanwhile both Mercedes-Benz USA and Toyota posted record sales for the month, rising 10.8% and 0.5% respectively.
October was the strongest month of the year so far for Mercedes-Benz USA and its best October on record, with sales improving 10.8% to reach 22,820. This brought year-to-date sales to 203,085, a 2.8% increase over the same period last year. According to the company sales were boosted by high consumer demand for the new 2008 C-Class which recorded a staggering 102% increase over October 2006.
Toyota Motor Sales, U.S.A., Inc., also reported its best-ever October sales at 197,592 vehicles, an increase of 0.5% year-on-year. "Showroom traffic was strongest from the Midwest through the Gulf States," said Jim Lentz, TMS executive vice president. "In Southern California, wildfires crimped a key market already impacted by the housing downturn."
