U.S. auto sales rose to a seasonally adjusted annual rate of 18.2 million in September–the highest in more than 10 years, according to Bloomberg.
A combination of Labor Day and low oil prices created high demand. It doesn’t hurt that economists expect that September boasted solid job growth. General Motors, Ford Motor, and Nissan Motor all beat analysts’ expectations for the month.
GM’s sales rose 12.5% in September from the previous year to more than 250,000 cars. Fiat Chrysler reported a 14% increase year-over-year, and Ford saw its sales increase 23% since the previous year, according to the Wall Street Journal.
Even Volkswagen enjoyed a small sales gain of 0.6%, despite being embroiled in a scandal over its emissions.
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