DOW JONES NEWSWIRES
Nissan Motor Co. (NSANY, 7201.TO) posted a 16% increase in U.S.
auto sales in October as the auto maker said stable fuel prices
drove sales of trucks, sport-utility vehicles and crossovers.
Japan's second-biggest car maker by worldwide sales volume after
Toyota Motor Corp. (TM, 7203.TO) reported it sold 69,773 vehicles
in the U.S. in October, up from 60,115 a year earlier but 6% lower
than September. Car sales grew 5.8% while truck sales jumped
36%.
October had 27 selling days, one fewer than the same month of
2009.
Nissan joined most of its peers in reporting higher October
sales on Wednesday, as the industry benefited from improved sales
of trucks and other large vehicles, a trend that has continued for
months. Growth was strongest at Chrysler Group LLC and Ford Motor
Co. (F), which reported sales growth of 37% and 19%,
respectively.
Meanwhile, auto makers estimate October's annualized selling
rate for light vehicles was over 12 million, the first time the
industry has breached that mark since August 2009, when results
were boosted by the government's cash-for-clunkers program.
Sales at Nissan's larger namesake division improved 15%, while
Infiniti climbed 23%. Frontier, Armada and Rogue saw big gains,
while the all-new Infiniti M line continued to sell briskly.
Nissan, which is outsold by peer Honda Motor Co. (HMC, 7267.TO)
in the U.S., is counting on its soon-to-be-launched Leaf electric
car to create a new image for the company. Nissan is hoping the
car, which runs on an electric motor and a battery pack and is
designed to go 80 miles or more before needing a recharge, will
convince Americans that it is a trend-setter and technology
leader.
The company's American depositary shares fell 1.6% to $16.95 in
recent trading.
-By John Kell, Dow Jones Newswires; 212-416-2480;
john.kell@dowjones.com