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September Sales Report

October 3, 2007

September auto sales decreased for Chrysler, Ford and Toyota, while General Motors, Honda and Nissan saw increases.

GM, whose sales remained flat, attributed its success in September again to brisk sales of full-size pickups and crossover SUVs.

Honda saw a 13.8-percent increase in sales, with Dick Colliver, executive vice president of American Honda, attributing it to the mid-September launch of the new Accord. “The diverse lineup of Honda cars and light trucks has become the strongest and most competitive in the company’s history,” he said in a company press release.

Nissan reported a sales increase of 11 percent, reaching 94,269.

Despite a decline in September sales, Chrysler officials remained optimistic. Darryl Jackson, vice president of U.S. sales, stated, “With the overall industry down vs. September 2006, Chrysler retail sales remain strong.”

Company officials also reported a good sell down on 2007 models, and that Chrysler will extend its zero percent APR offering for 60 months on more of the company’s 2007 models through the end of the month.

Toyota’s slight sales decrease of 0.6 percent was no surprise to officials. “Given September’s economic headwind, the industry saw a fair month,” said Jim Lentz, TMS executive vice president. “The fall selling season is likely to benefit from increased stabilization and modest gains.”

Ford’s president for the Americas Mark Fields said remained hopeful despite a 21-percent drop in sales. “Demand for our new crossovers continues to grow and contributes to our efforts to stabilize U.S. retail market share,” he said.

The September 2007 sales reports for the above mentioned companies are as follows:

Chrysler:

Chrysler LLC reported U.S. sales for September 2007 of 159,799 units; down 5 percent from September 2006 when the company sold 168,888 units.

The Jeep brand sales were down 11 percent vs. last year, while Jeep Wrangler and Wrangler Unlimited posted 71-percent gains over September 2006.

Dodge brand sales increased 5 percent over last year.

Chrysler’s September incentives averaged $3,502, down $267 from August and $709 from last September.

Ford:

Demand continues to grow for Ford Motor Company's all-new, redesigned crossover vehicles, but overall sales declined in September.

Total September sales were 189,863, down 21 percent from the same period last year. Sales of crossover vehicles were up 96 percent in September.

Ford’s average incentive spending for September slightly decreased from $3,139 per vehicle sold in August to $3,074 in September. This is still down almost $1,000 from $4,036 in September 2006.

General Motors:

GM dealers in the United States delivered 337,640 vehicles in September, up 4 percent when compared to the same period last year.

Car sales were down 4 percent, while truck sales were up 4 percent, leaving GM sales for the month flat.

Incentive spending decreased from $3,329 per vehicle sold in August to $3,089 in September, still a slight increase from the $2,988 average last September. Inventories were down almost 100,000 vehicles to about 900,000.

Honda:

American Honda Motor Co. Inc. posted record September sales of 127,200 Honda and Acura vehicles – a 13.8-percent increase on a daily-selling-rate basis. American Honda’s year-to-date sales totaled 1,193,520, up 2.8 percent on a daily-selling-rate basis.

Honda Division posted record September sales as well, with 112,831 units sold –- a 17.5-percent increase vs. last year.

Honda’s September incentives averaged $991 per vehicle sold, down from $1,102 in August, but up $210 from the same month last year.

Nissan:

Nissan North America Inc. reported sales of 94,269 units in September, up 11 percent from the same period last year. Nissan Division sales increased by 12.1 percent over last year. Infiniti Division sales increased by 2.7 percent vs. the prior year.

Nissan’s incentives averaged $2,015 per vehicle sold in September, down $289 from $2,304 in August and down from $2,531 in September 2006.

Toyota:

Toyota Motor Sales USA Inc. reported September sales of 213,043 vehicles, a decrease of 0.6 percent from September 2006.

The Toyota Division posted September sales of 187,929, down 0.9 percent from last September. The Lexus Division reported September sales reaching 25,114 units – an increase of 1.6 percent.

Incentive spending for Toyota averaged $802 per vehicle sold in September, down $85 from August and down $76 from September 2006.

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Edmunds.com estimated that the average automotive manufacturer incentive in the U.S. was $2,293 per vehicle sold in September 2007, down $176, or 7.1 percent, from August 2007, and down $267, or 10.4 percent, from September 2006.