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US car sales drop in September

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Mixed results for auto manufacturers in the United States have resulted in a slight drop in new vehicle sales in the country.

Reuters reports that, according to industry research firm Autodata, overall U.S. auto sales fell 4.2 percent in September to 1.14 million vehicles.

And the annual auto sales rate was 15.28 million vehicles, the slowest since April and down considerably from 16.09 million in August.

As AAP reports, the major auto makers had mixed results. General Motors delivered 187,195 new vehicles in the US in September, a fall of 11 per cent compared to this time last year.

On the other hand, Ford recorded a six per cent sales increase compared to the same time last year (to 185,146 vehicles). Chrysler reported a one per cent rise in sales to 143,017 vehicles and Toyota said it sold 4.3 per cent fewer vehicles in the US compared with September 2012, at 164,457.

Meanwhile back home, AAP reports that there is confidence within the Australian Automotive industry that sales are on the way up.

According to Australia's largest automotive retailer Automotive Holdings Group (AHG), the decision by the new Federal Government to dump the previous government’s fringe benefits tax changes has been cause for optimism.

"AHG's outlook for the automotive retail segment is robust heading into FY2014 (the 2013/14 financial year) on the back of low interest rates, manufacturer support, continual advancements in the quality and safety of new vehicles and overall vehicle affordability levels," AHG said in its annual financial report released on Friday.

"The recently proposed changes to the treatment of FBT on vehicles has had an impact on the industry, however the September federal election outcome saw the proposed change repudiated."

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