Ford just reported a 13.9% rise in auto sales in October.
However, Wall Street analysts were looking for a 16% rise.
Chrysler reported an 11% rise in auto sales, but analysts were looking for a 14% rise.
Toyota reported a climb of 8.8%. Analysts were predicting 13%.
Nissan vehicle sales missed as well, climbing 14.2% when analysts were looking for 17%.
Unlike its rivals, GM saw vehicle sales surge 15.7%, crushing expectations for 7.9%
Analysts predict total vehicle sales in October were 15.45 million at a seasonally-adjusted annualized rate, up from 15.21 million SAAR in September.
Domestic vehicle sales are expected to come in at 11.90 million SAAR, up from 11.66 million in September.
“Our primary data sources — which include dealership surveys — suggest that auto SAAR grew slightly in October in spite of the government shutdown,” say Morgan Stanley analysts Ajit Agrawal and Spencer Hill.
“We estimate that most manufacturers will be up between 5% and 10% after adjusting for selling days,” write BofA Merrill Lynch analysts Douglas Karson, Mark Hammond, and Claudia Gasiorek in a report. “October 2013 had 27 selling days, while October 2012 had 26 selling days.”
We will have October sales figures LIVE as auto makers report throughout the day. Click here to refresh for the latest updates »
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