Vehicle Sales Rise 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 grew 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.

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. Nissan, whose sales slid 3% to 79,700 units, was the only major carmaker to post a decline.

Hyundai demand fell 4% to 50,300 vehicles. Kia posted a 13% increase to an October best of 42,500 units.

European carmakers 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).