September Auto Sales Total 18.7 Million, Rev Past Estimates

Auto sales for the month of September topped estimates. This is the highest figure since July of 2005. Car sales came in at an annual rate of 18.17 million, topping forecasts of 17.6 million. The Labor Day holiday weekend was late this year and was counted in September, which gave auto sales a boost. Fiat Chrysler (FCAU) sales rose 13.6% from the same period a year ago, delivering 193,019 cars. Sales of General Motors (GM) increased 12.5%, selling 251,310 vehicles for the month of September. Continuing the positive trend, Ford Motor (F) sales saw the biggest growth, jumping 23.3% year-over-year, delivering 221,269. Nissan (NSANY) also posted sales that showed an 18.3% increase to 121,782 cars. Toyota Motor (TM) sales went up 16.2% to 194,398 units, along with Honda Motor (HMC), which showed a sales growth of 13.1%, delivering 133,750 vehicles. But, Volkswagen AG (VLKAY) on the other hand reported sales increase of only 0.6% from the same period the previous year, delivering 26,141 units for the month of September. This comes as the German automaker grapples with the emissions cheating scandal. TheStreet's U-Jin Lee reports from New York.