U.S. Car Sales Advance 1%

Growth in new-car sales in the U.S. slowed to 1% in October, as weaker sales incentives, bad weather and higher fuel prices eroded consumer demand.

Sales totaled 1.35 million passenger vehicles, up by a microscopic 9,000 units from the same period last year, according to data compiled by Automotive News. The newspaper says the month’s annualized selling rate of 17.6 million units is the largest so far this year.

Most analysts had expected a sales decline in October, and most carmakers did report smaller volumes. General Motors, which no longer reports monthly results, dropped an estimated 5% to 239,500 units in October. Ford’s domestic sales slid 4% to 191,700 units. Deliveries also fell for Honda (-4% to 122,200 vehicles) and Nissan (-11% to 110,000).

The two big bright spots in last month’s results are Toyota, whose sales gained 1% to 191,100 units, and Fiat Chrysler Automobiles, with a surprising 16% jump to 178,300 vehicles.

Among gainers in smaller-volume brands are Subaru (+3% to 55,400 units), Hyundai (+3% to 52,700 units), Kia (+2% to 45,100) and Volkswagen (+5% to 29,000).