Overall Vehicle Sales Up In Sept.

WASHINGTON--Overall vehicle sales enjoyed a slight increase in September, while the “big-three” North American manufacturers traded market share and experienced little overall gain, according an analysis by the National Automobile Dealers Association.

Overall sales of U.S.-produced light vehicles were lower in the September data released by General Motors, but offset the gains in sales of Ford Motor Co.’s and DaimlerChrysler’s North American production.

“Stronger incentives from DaimlerChrysler helped provide a double-digit monthly uptick for their September sales,” said Paul Taylor, NADA’s chief economist. “As news of a slowing world economy impacts U.S. consumers, overall sales for the ‘big three’ automakers are likely to moderate in the fourth quarter. New product, and competitive incentives, continue to be the keys to sales success this year,” he said.

“The impact of six interest rate hikes over the last year is starting to have an impact on light vehicle sales and production levels, but remains consistent with the soft landing predicted for the economy,” Taylor added. The September sales figures also show that domestic vehicle manufacturers continue to face a moderation of overall vehicle sales and a relative loss of market share to import manufacturers. “As a result, light vehicles are expected sell at 17.3 million annual units in September, and at a pace very near 17 million annual units during the fourth-quarter,” said Taylor. Despite the slowing, Taylor forecasts the industry will set a new annual record slightly above 17.3 million units, eclipsing the record set in 1999 of 16.9 million units.

Ford sales increased by 3.4 percent overall, and Ford sold more Explorers than in September 1999, suggesting that the Firestone tire recall has not significantly affected Explorer sales. The long-term trend is moderating non-luxury SUV sales from the “big three” North American manufacturers. “Ford should benefit going forward when Explorer production returns to normal,” Taylor said.

Gasoline prices also have partially affected the long-term moderation in sales. “But, as gasoline prices move back toward $1.40, non-luxury SUV sales from all of the ‘big three’ should benefit,” said Taylor. Sales of 4-cylinder engine vehicles increased about 5 percent over 12 months after gasoline prices rose by 30 percent in 1997, suggesting that some consumers have responded to rising gasoline prices.

The Top 20 selling vehicles in the U.S. this year through September are:

1) Ford F-Series pickup

2) Chevrolet Silverado pickup

3) Ford Explorer

4) Toyota Camry

5) Honda Accord

6) Ford Taurus

7) Dodge Ram pickup

8) Ford Ranger pickup

9) Honda Civic

10) Dodge Caravan

11) Ford Focus

12) Jeep Grand Cherokee

13) Ford Windstar

14) Chevrolet Cavalier

15) Toyota Corolla

16) Chevrolet Blazer

17) Pontiac Grand Am

18) Chevrolet S-Series pickup

19) Chevrolet Malibu

20) Ford Expedition