GM’s China sales at record monthly high

More than 17 million cars and trucks were sold in the us back in 2000.

The company said retail sales in the first 10 months of 2015 climbed 2.9 per cent from a year earlier to 2.8 million units, also a record. A Reuters poll of 45 economists showed expectations of a seasonally adjusted annualized sales rate of 17.7 million vehicles for last month. Sales of the South Korea-based Hyundai Motor Co. subsidiary are up 5% so far this year to 638,195 cars and SUVs.

Ford Motor Co.’s 13.4% growth in light-vehicle sales over a year ago was slightly below Edmunds.com’s expectations for a 14.2% gain.

Auto shoppers continue to drive away in larger, pricier vehicles amid low interest rates, cheap fuel and a stronger economy. While that is flat with October 2014, its results contrast with the significant gains seen by other vehicle makers.

Toyota Motor Corp. posted its best-ever sales for the month on a 13% year-over-year increase to 204,045 light vehicles sold. Sales for one of the brand’s top-selling SUVs, the Tucson, surged threefold in October compared with September. Sales of new cars and trucks rose by double digit percentages at most automakers in October which is being seen as a huge positive.

Cadillac sold a record 5,757 vehicles in China, an increase of 23 percent year-over-year. Compact utilities are expected to hit their third month as the top segment with 40 per cent growth. “Exploding popularity” of small utility vehicles means small and midsize cars are losing market share, Kelley Blue Book says. Ford’s USA sales chief, Mark LaNeve, said the company commanded record average selling prices for its vehicles, at $34,600 per vehicle.

Passenger vehicle sales in China increased at the fastest pace in seven months after the government cut a tax on auto purchases to boost sagging demand in the world’s largest vehicle market. It also would make October the sixth consecutive month above the 17 million mark.

Volkswagen AG (VOWG_p.DE) sales were essentially unchanged, well below the overall industry, as it feels the sting of a diesel emissions scandal. Volkswagen sold 30,400 vehicles in the United States last month.

“Our timing couldn’t be better, with industry sales at record levels”, said Kurt McNeil, GM’s vice president of sales operations.