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US car sales growth estimated at 11% in October  Join our daily free Newsletter

MENAFN - 01/11/2012

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(MENAFN) US auto sales growth in October is estimated at 11 percent, led by Toyota Motor Corp and Honda Motor Co, which benefited from increased demand for compact cars as gasoline prices remained high across the nation, Reuters reported.

This would indicate the continued recovery of the US auto industry, which three years ago was in crisis mode as sales fell to the lowest point in nearly three decades.

According to a Reuters poll of economists, the annual sales rate is expected to be 14.9 million vehicles for the second straight month, marking the best October since 2007.

Demand was boosted by rising home prices, attractive vehicle financing options and a growing need to replace aging cars.

 






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