US Oct auto sales down 5.8% year on year

David Haydon

02-Nov-2016

HOUSTON (ICIS)–US sales of new vehicles in October decreased by 5.8% from the same month last year, according to research firm AutoData on Wednesday .

US Sales of New Autos

  16-Oct 15-Oct YTD 2016 YTD 2015
Passenger Cars 526,462 618,035 5,949,217 6,527,932
Light Trucks 845,858 838,834 8,530,147 7,980,795
Total 1,372,320 1,456,869 14,479,364 14,508,727

October sales of light trucks inched upwards 0.8% year on year. Once again passenger cars sales dropped, this time reaching double digits of 14.8%.

Among the three major US automakers, Fiat Chrysler Automobiles (FCA), General Motors and Ford all posted year-on-year losses of 10.3%, 1.7% and 11.9%, respectively.

Total US sales of new light vehicles year-to-date through October were down 0.2% compared with the same period last year.

Source: AutoData

The automotive industry is a major global consumer of petrochemicals which contributes more than a third of the raw material costs of an average vehicle. ICIS tracks the movement of petrochemical raw material costs in auto production both globally and regionally with the weighted ICIS Basket of Automotive Petrochemicals (IBAP).

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