October U.S. auto sales up, especially at Chrysler
U.S. auto sales rose again last month, as pent-up demand for cars continues to overcome low consumer confidence in the economy.
Chrysler’s sales increase was especially strong, as customers continue to return to the smallest of the Detroit Three car companies.
The company's sales rose 27 percent over October last year.
It was also the 19th straight month of sales increases for Chrysler.
Michelle Krebs of Edmunds.com says Chrysler finally has new products to sell, like the new Jeep Compass, which outsold its predecessor by 566 percent.
Krebs says Chrysler is also running good ads for its cars, like the instantly iconic Superbowl ad starring Eminem and the Chrysler 200.
"And it’s caused people to at least know that the company still exists," says Krebs, "when many people did not think the company would survive after its bankruptcy, and it’s catching the attention of buyers."
Nissan sales rose 18 percent, while sales declined nearly 8 percent at Toyota and 1 percent at Honda. Both companies are recovering from inventory shortfalls related to the tsunami in Japan last spring.