SAAR Slips, Sales Rise in October
ALEXANDRIA, Va., Nov. 4, 2013 /PRNewswire-USNewswire/ -- The American International Automobile Dealers Association (AIADA) today released October 2013 sales figures for the international nameplate automobile industry. AIADA represents America's approximately 10,000 international nameplate franchises whose brands accounted for 54 percent of all vehicles sold in the United States last month.
AutoData Corp. estimated the seasonally adjusted annual rate (SAAR) at 15.23 million units versus 14.4 million units a year ago and 15.28 million units in September. October marked the second consecutive month of a lowered SAAR, despite sales for all brands, unadjusted for business days, rising 8.4 percent from October 2012 and 10.6 percent from September 2013.
The declining SAAR can be attributed, in part, to the impact on consumer confidence of the government shutdown in the first half of the month. Consumers returned in the second half of October, driven by pent-up demand and the availability of relatively cheap credit. While sales were good, they looked even better when compared to those of October 2012, which were badly impacted by Hurricane Sandy. Honda's sales rose 5.7 percent from a year ago, Hyundai's were up 6.5 percent, and Nissan's rose 15.4 percent. Volkswagen saw its biggest sales decline of the year with a drop of 18 percent. Toyota's sales were up eight percent from October 2012, but the automaker lost market share for the first time in five months.
"Fortunately for the industry, the government shutdown appears to have had a limited impact on sales," said AIADA President Cody Lusk. "The growth we have seen throughout 2013 is solid and sustainable, and should continue to benefit manufacturers, dealers, and consumers alike."
In September, international brands accounted for 652,008 units sold, up from 625,593 in September. Asian nameplates held 43.6 percent of the market, down from 44.6 in September. European nameplates took a 10.4 percent share, up slightly from 10.3 percent in September. Domestic brands occupied a 46 percent share, up from 45.1 in September and 43.9 in August.
Read AIADA's complete coverage of October's international nameplate auto sales here.
SOURCE American International Automobile Dealers Association