It seems the expected hangover from the cash for clunkers program has been postponed as Ford and GM both post monthly gains over the previous year in October without the benefit of government-funded tax benefits. Automotive News says that with the October numbers, domestic auto sales “finally show some real spark.”
Ford’s October sales of 136,583 vehicles were up 3 percent over the same month in 2008; GM’s sales of 176,632 vehicles was a 4 percent jump. After months of declines, some of them as steep as 50 percent, this is incredibly good news, especially for GM as it works to reestablish itself after a painful bankruptcy this summer.
Chrysler, unfortunately, still lags far behind. October sales for the number three domestic automaker dropped by 30 percent compared to last October, continuing a long string of monthly drops.
The two largest Japanese automakers, Honda and Toyota, were dead even with last year.