October Strongest Sales Month in a Year
ALEXANDRIA, Va., Nov. 4, 2010 /PRNewswire-USNewswire/ -- The American International Automobile Dealers Association (AIADA) today released October 2010 sales figures for the international nameplate automobile industry. AIADA represents more than 10,000 international nameplate franchises whose brands accounted for 54.6 percent of all vehicles sold in the United States in October.
As 2011 models hit the lots, overall sales including domestic brands and unadjusted for the number of business days, were up 13.4 percent from October 2009. Sales were up 10.6 percent for the year. The seasonally adjusted annual rate (SAAR) for light vehicle sales is now estimated by AutoData Corp. to be at 12.26 million, up from 11.76 in September 2010. October is the first month the sales pace broke the 12 million mark since August 2009 – when the Cash for Clunkers program was in full swing.
International brands were up 11.8 percent from October 2009 and 8.3 percent for the year. Some of the biggest gains were seen by Hyundai (up 37.6 percent from October 2009), Kia (38.7 percent), Subaru (25 percent), and Volkswagen (17.9 percent). Toyota once again sold the most of any international nameplate corporation in October, moving 145,474 vehicles, down from 147,162 in September 2010. With a 0.5 percent decrease in sales, Toyota is one of the few international automakers to see sales down for the year. General Motors led all U.S. sales with 183,543 units.
"International brand dealers are continuing to see steady improvement in sales," said AIADA President Cody Lusk. "Improving consumer confidence is combining with attractive 2011 models to bring shoppers to dealerships. At the end of the day, the quality of our products will determine the speed and sustainability of our recovery."
According to numbers from Autodata Corp., international brands sold 518,835 units in October, down from 525,483 in September and 555,425 in August. Asian brands accounted for 45.9 percent of the overall market, down from 46.1 percent in September. European nameplates had an 8.7 percent share, the same as in September. Domestic brands finished October with 45.4 percent of the market, up from 45.2 a month earlier.
Read the complete coverage of October's international nameplate auto sales here.
About AIADA: AIADA represents America's 10,000 international nameplate automobile franchises. These retailers have a positive economic impact, providing more than 500,000 American jobs.
SOURCE American International Automobile Dealers Association