Fiat Chrysler October sales rise nearly 15%

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In 2009, at the depth of the Great Recession, US auto sales dipped to 10.4 million vehicles. Schuster noted that the industry has roared back from weak sales in the early months of the year. Chevrolet trucks were up 13 percent, the 19th consecutive monthly increase, and Chevrolet cars were up 6 percent, the best October result since 2004, according to GM.

On this news, Fiat Chrysler shares fell 0.69, or 5%, to close on July 27, 2015 at $14.41 per share.

Honda says its sales rose 8.6 percent.

The company’s Dodge brand sales rose 12% year over year in October and are now down 12% for the year to date. That would make October the third month this year to see double-digit gains from a year ago, after September and January.

The Detroit News quoted Karl Brauer, a senior analyst at Kelley Blue Book, who said that the industry has “passed recovery mode”, and the industry will continue benefiting from “all the key factors” – such as pent-up demand, available credit/financing at low rates and cheap gas prices at the pump. Schuster said buyers are using the extra cash to buy bigger vehicles loaded with features. The discounts vary, but on a 2016 Ford Explorer, the starting price drops by $1,121 to $29,929. The company, which has a legal address in Ireland and operations in the US, could provide tax relief for Pfizer, along with a portfolio of brand-name treatments.

Chevron Corp.is cutting up to 7,000 jobs, or 11 percent of its workforce, as it deals with lower oil prices that are cutting deeply into profit.

Automakers are reporting the best two-month stretch of USA sales in 15 years, another sign that the nation’s economy is improving.

VW has admitted that software on four-cylinder diesel engines turned on pollution controls during government tests and turned them off during on-road driving. Audi sales rose 17 percent in October, while Porsche’s rose 11 percent.

That could change. The U.S. Environmental Protection Agency on Monday accused VW of cheating on six-cylinder Audi and Porsche models, a charge VW denies.

Analysts are now predicting that US auto sales will be up 12% year over year.

Ford’s sales jumped to almost 214,000. Pickup sales were flat, gaining about 1,200 units, but Ram saw a boost on the van side, with healthy gains for the ProMaster and plus sales from the more recently launched ProMaster City.

Ram pickup sales were up 3 percent to 40,931 units.

– Toyota’s sales totaled 204,045. GM said its retail sales and fleet volume rose 16 percent.

Last month was Fiat Chrysler’s strongest October since 2001 with sales of about 196,000, led by the booming Jeep brand with a 33 percent increase.

At Nissan, sales rose to just over 116,000 from 103,000 a year ago.