Auto Sales Climb 7% in U.S.

Automakers sold 1.09 million cars and light trucks in the U.S. last month, up from 1.02 million units in October 2011, according to Autodata Corp.

The total equates to an annual sales rate of 14.3 million vehicles compared with a pace of 13.3 million units a year earlier and 14.9 million units in September. Carmakers affirmed their forecasts for full-year American sales of 14.5 million to 14.7 million vehicles. Last year's volume totaled 12.8 million units.

Domestic automakers boosted volume 4% to 486,200 vehicles in October, led again by Chrysler, whose sales rose 9% to 122,500 units. Demand climbed 5% to 195,800 units at General Motors and was virtually unchanged at 167,900 units at Ford.

A 13% jump in passenger cars last month vs. a 2% increase for trucks favored foreign carmakers. The fastest-growing segment was small cars, which surged 32% surge to 211,600 units.

European automakers reported the biggest percentage gains in October. They boosted sales 15% year over year to 120,600 vehicles, paced by Volkswagen Group (+20% to 46,300 units). The VW brand (+22% to 34,300 units) had its best October since 1972.

The BMW brand (+21% to 26,500 units) outsold Mercedes-Benz Cars (+6% to 25,600 units). BMW has narrowed Mercedes' cumulative lead in American luxury sales this year to 2,800 vehicles from a 5,300-unit gap last month.

Asian companies hiked U.S. sales 8% to 485,400 vehicles last month. Group volume advanced 15% to 155,200 units at Toyota and 9% to 107,000 units at Honda. Demand at Nissan slid 3% to 79,700 units.