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Big September Sales Figures as Auto Industry Comeback Continues

TrueCar

September 2012 auto sales are expected to show a big increase over the previous September, and the best September sales figures since 2007, as the auto industry continues its rebound, according to a report by TrueCar.

While the sales forecast of 1,163,000 light vehicles in September is down 9.5% from a big August 2012 sales month, that figure is up 10.5% from September 2011.

“Gas prices have continued their steady climb in September fueling unseasonably high sales of smaller cars while on the other end of the spectrum large trucks also performed well as small businesses have slowly started to come back to the marketplace,” said Kristen Andersson, Senior Analyst at TrueCar.com.

The automakers that experienced the biggest September boost year-to-year were Toyota (32.7%), Volkswagen (31.4%), and Honda (26.7%). The two Japanese brands were still reeling from the effects of the devastating tsunami that hit Japan in 2011, so these increased numbers represent a return to form.

The reason for Volkswagen’s big bump from the previous September appears to be incentive spending. While the industry as a whole showed a 6.7% reduction in incentive spending compared to September 2011, VW increased their incentive spending by a whopping 29.2%. This lends credence to the motto: “Show me the money.”

The only other automakers to increase incentive spending compared to the previous year were Hyundai/Kia (6.8%) and Nissan (1.1%). All other companies showed a reduction in incentive spending.

Does this mean there aren’t good deals to be found out there? Of course not! Despite reduced incentive spending, there are still plenty of desirable vehicles that have money on the hood. Check out our previous blog post for more details, and no matter what the time of year, use AutoBuying101.com’s research tools to find the best deals.