Auto sales recovery momentum builds
Analysts are estimating the General Motors will sell more than 200,000 vehicles in October, an increase an increase of more than 7 percent over last year.
TrueCar.com, an automotive information website, projects GM’s sales will be down 4.6 percent against September’s sales. The report anticipates that all major auto manufacturers sales will be up compared to October 2011 with Volkwagen and Toyota leading the way with increases of 25.1 and 22 percent respectively.
“New car sales are on automatic pilot. October was a robust start to fourth quarter sales with most manufacturers posting double digit gains while continuing to lower incentives spending,” said Jesse Toprak, senior analyst at TrueCar.com. “We expect this recovery momentum to continue into the next year, with 2013 sales reaching 15.5 million units.”