Best and Worst Car Sales for October 2009
These aren't great numbers, but it's the first time sales have shown an improvement over last year (if you don't include the cash-for-clunkers months of July and August).
Hyundai came out on top with a 49% increase in sales while Chrysler saw its sales plummet 36%. Chrysler seems to be in big trouble - with no redesigned models coming to dealerships soon, traffic and interest are way down.
Some car makers are doing better than others when it comes to clearing out leftover 2009 models. Only 10% of Ford's inventory is 2009 models. This will allow them to forgoe large incentives in order to sell off this inventory. GM has about 50% of their inventory tied up in 2009 models while Hyundai still has about 30%.
One of the worst performing cars last month was the Smart car. Sales dropped 70% compared to the year ago period.
Car makers are trying to do a tight balancing act right now. Overall sales have improved over the last couple of months while car makers have kept inventory tight. If sales keep improving, there could be supply issues for car manufacturers that haven't increased production. On the other hand, if sales take a turn lower in the months ahead, car makers will have too much inventory on hand and will be forced to offer larger incentives.
Here is a list of the top 10 best selling cars for October 2009:
- Ford F-Series: 39,496 sales
- Chevy Silverado: 31,754 sales
- Toyota Camry: 30,136 sales
- Toyota Corolla: 25,717 sales
- Honda Accord: 23,210 sales
- Honda Civic: 15,868 sales
- Honda CR-V: 15,667 sales
- Nissan Altima: 14,773 sales
- Toyota RAV4: 13,971 sales
- Toyota Prius: 13,496 sales
My Recommendation for Car ShoppersTrueCar No-Haggle, CarsDirect, and NADAGuides are the quickest way to see the lowest car prices in your area. These sites show you no-haggle prices from dealers closest to you - and the deals are usually really good. This should be the first step you take when negotiating your car price. Follow this up with my checklist to make sure you squeeze out every last bit of savings.
- Gregg Fidan
Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
- Best Rebates, Incentives, and Lease Deals
- Latest Car Buying Scams and Tricks
- The Best & Worst Time to Buy a Car
- Which Cars You Should Avoid