On the heels of a very strong September, the US auto market remained red hot in October, finishing at an 18.12M SAAR pace, a 10% gain over October of 2014.
Even with a mixed economy, demand in the auto market continues pointing toward a record year, even with average transaction price of new vehicles hitting $33,201. October’s gains can also be attributed to a steady return to more incentives (which rose above $3,100 per vehicle).
With a strong finish to the year — and short of any storms to interrupt the retail momentum — 2015 is poised to finish within range of the highest volume year in automotive history.
Your ESA Car Keys recap follows.
OCTOBER 2015 HIGHLIGHTS
Wards Auto and NADA MarketBeat
- October SAAR: 18.12M units
- October Units: 1.45M vehicles sold
- Change: DSR* +9.6% | Volume +10.1% vs October 2014
- Big Gainers: Subaru +20%, Hyundai +19.8%, GM +15.9%, Fiat-Chrysler +14.6%, Ford +13.4%, Toyota +13.0%, Nissan +12.5%, Kia +12.0%
- Laggards: BMW -3.8%, VW +0.2%
*DSR: Daily Sales Rate. A more reliable indicator of the pace of auto sales which accounts for actual car-selling days per month.
SOURCES: NADA MarketBeat, Wards Automotive, Automotive News.
Dave Eckstein is a Partner in the firm ESA & Company. He specializes in highly profitable market share growth for local businesses and gets a kick out of demonstrating a declining cost of customer acquisition. He plays baseball, but isn't that Dave Eckstein.