New Vehicle Sales the Best Since 2001
New vehicle sales were up by 12% in last month, year-over-year, making it the best October for dealers since 2001, according to new figures from Kelley Blue Book.
Even as the economy seems to be slowing, consumers continue opening their pockets to buy new cars and trucks.
KBB said that October’s new vehicles sales reached 1.43 million units, with retail sales expected to account for 84.8% of volume.
The big star of dealer lots was Ford’s F-150 pickup truck. The F series has always been a sales champ, but Ford’s new iteration of the vehicle has been an especially big hit with buyers. Its success has heled produce 16.6% increase in new-vehicle sales for Ford.
By category, the compact SUV segment continues to lead. Compact utility vehicles have led the charge in sales growth for three months now, with the category enjoying a 40% increase overall.
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