September Sales Provide Basis for Economic Rebound

Bloomberg News - October 3, 2012

The auto indus­try reached an impor­tant mile­stone in Sep­tem­ber that makes it the “bright, shin­ing start” of the U.S. eco­nom­ic recov­ery, says Mark Zandi, chief econ­o­mist at Moody’s Ana­lyt­ics.

Get the lat­est sta­tis­tics on U.S. auto sales to date.

Car­mak­ers sold cars and light trucks at an annu­al­ized rate of 14.9 mil­lion, tak­ing into account sea­son­al adjust­ments, accord­ing to researcher Auto­da­ta Corp. That’s the best pace since March 2008, before the fail­ure of Lehman Broth­ers Hold­ings Inc.

Toy­ota Motor Corp led with the biggest gain in Sep­tem­ber, with sales surg­ing 42 per­cent and top­ping the 36 per­cent gain that was the aver­age esti­mate of eight ana­lysts sur­veyed by Bloomberg.

The U.S. sales rate exceed­ed the 14.5 mil­lion pace that was the aver­age esti­mate of 16 ana­lysts in Bloomberg’s sur­vey. The rate is the best indus­try sales pace since 14.95 mil­lion in March 2008, accord­ing to Auto­da­ta.

Hon­da…boost­ed sales in Sep­tem­ber by 31 per­cent, top­ping the 26 per­cent aver­age esti­mate of eight ana­lysts. Toy­ota Corol­la deliv­er­ies climbed 43 per­cent to 23,026 and RAV4 sales surged 80 per­cent to 13,796, the Toy­ota City, Japan-based automak­er said in a state­ment.

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