Spurred on by an abundance of 0% finance deals, US consumers went on an automobile buying spree in October, helping the industry achieve a record annual sales rate of 21.3 million vehicles.

Introduced as a means of kickstarting sales in the wake of September 11, this latest round of incentives have proved far more effective than any of the ‘big three’ automakers - General Motors, Ford and Daimler Chrysler - envisaged. They have also proved instrumental in reducing inventories, to the extent that all three have announced plans to increase production early in the new year, ahead of expectations.

Share this story: