How GM Paced the Auto Industry Through the Shutdown
The Detroit Three felt a major boost from truck-hungry consumers in October, a factor which led to big gains for Nissan (NSANY.PK) and modest gains for Toyota (NYSE:TM). General Motors (NYSE:GM) paced automakers with a strong showing in nearly every division, while Ford (NYSE:F) and The Chrysler Group (FIATY.PK) had their own reasons to celebrate. American consumers sprang into action once the shutdown ended and watched gas prices hover near $3.35 on average throughout October.
General Motors excelled across the board
General Motors had an impressive month with 226,402 vehicles sold — about 35,000 more than second-place Ford. GM’s showing was 16 percent better than its performance in October 2012. Part of the reason was the uptick in buyers for the Silverado and GMC Sierra. Though Ford’s F-Series still topped the list of overall vehicle sales, the two GM pickups posted double-digit gains. Buick also helped push GM over the top by posting a 31-percent gain, while the Chevy Malibu and 2014 Impala surged.
Ford gained 14 percent
Though Ford’s 14-percent year-over-year gains were impressive, they actually missed analyst expectations by two points. There were still numerous bright spots for the automaker. Among them, the Ford F-Series pickups had gains in double digits from 2012 figures once again, demonstrating an insatiable appetite for the automaker’s flagship vehicle. On the car front, Ford’s new star continued to impress.