October Car Sales Can Point to November's Best Car Deals
October car sales were strong, with automakers selling 12 percent more cars than they did in October of 2012. Though auto sales were good overall, some models saw sales well above the sales numbers of other cars, trucks and SUVs.
According to The Wall Street Journal, the three top sellers in October new car, SUV and truck sales were pickup trucks. The Ford F-Series sold the most units of any car, truck or SUV in October, followed by the Chevrolet Silverado and Ram trucks. It’s interesting that though the Silverado is all-new for 2014, the F-Series sold almost 50 percent more trucks in October.
When measuring the popularity of certain car, truck and SUV models, sales numbers don’t tell the entire story. Cars.com compiled a list of the fastest-selling cars in October. Though the top cars, trucks and SUVs on its list don’t come close to matching the top sellers in terms of sales numbers, they tend to sit on dealer lots for the shortest amount of time, indicating high demand for them just the same. Cars.com says the 2014 Chevrolet Corvette Stingray was the fastest-selling model in October, lasting an average of just four days on dealer lots.
While it may seem like sales numbers only matter to automotive analysts, these numbers can point consumers toward the best deals on a new car. Cars that sell quickly are less likely to have incentives. Car dealers are less likely to negotiate because they can be reasonably sure that they’ll sell a popular car soon. However, cars, trucks and SUVs with big monthly sales numbers aren’t necessarily in the same boat. Big discounts can help spur big sales numbers. For example, Ford had five of the top 20 selling vehicles in October (more than any other automaker), but as a company, Ford spent more than the industry average on incentives in October, according to a press release by Edmunds. The same is true of General Motors, which had four of the 20 top-selling vehicles in October, and outspent every automaker except Ford on incentives.
Other automakers, like Honda and Toyota, spent less money on incentives than the industry average, yet still managed to place three and four models, respectively, in the top 20 sellers for October. However, those automakers still spend money on discounts and incentives for buyers, which helps drive sales.
In the market for a new car? Check out the U.S. News rankings of this year's best cars. Then, look for a great deal on a new vehicle by checking out this month’s best car deals. Also, be sure to follow us on Twitter and Facebook.