Kyle’s Corner (FYI) Good News: Auto Sales Are on the Highway to a Strong Finish

Some good economic news plus early snowstorms on the East Coast (prompting SUV and truck sales) enabled automakers to sell almost as many vehicles in October as they did in February, which was the highest sales level since the summer of 2009.

USA Today reports that, "New models - such as the Volkswagen Passat, Hyundai Veloster, Honda Pilot and Jeep Wrangler - poured into showrooms, drawing 'just looking' shoppers whom dealers were able to turn into 'just-bought' customers."

And how does this automotive good news compare to the pre financial crisis sales level? The industry research firm Autodata reported that when adjusted for seasonal factors, the annual sales rate was 13.3 million vehicles in October (last month), 13.4 annual sales for February (this year), and 14 million annual sales (a record) in August 2009 (at the end of the government's cash for clunkers program).

Automakers that have experienced sales gains in October from their 2010 level include GM (1.8%), Ford (6.2%), Nissan (18%), Hyundai (22.8%), Chrysler (27.0%), and Volkswagen (35.6%). Another positive sign is the fact that the increase in vehicle sales was obtained by these six automakers.

Hopefully the automotive sales pace will continue and be combined with good Christmas sales as a springboard to start 2012.

Any good news is welcomed indeed!

Kyle Busch is the author of "Drive the Best for the Price: How to Buy a Used Automobile, Sport-Utility Vehicle, or Minivan and Save Money." He welcomes your comments or car questions at his auto web site: www.cartown1.com. Follow Kyle on Facebook and Twitter.