After a tumultuous year for the auto industry, October has been a good month for car and truck sales. According to Autodata Corporation, sales are up from September by 12 percent. Analysts say the willingness to spend is a sign of a bettering economy.
The most profitable company for the month was Hyundai, who saw a 49 percent boost in sales. Nissan came next with a 5.6 percent increase. General Motors saw a 4.7 increase.
Kevin Wiggins, Sales Manager of Fuccillo Hyundai, says sales of hard commodities like cars are a good indicator of the economy. He says his dealership has seen a lot more activity in the past month. "You can see it in the number of phone calls, the number of people coming into the dealership," said Wiggins.
Lucino Plaza, of Syracuse New York, just bought a car at Fucillo. He says in light of the recession, the combination of price and beauty of the Hyundai Sonata convinced him to buy. "We've been struggling, but I guess everything is going to get to normal very soon. My job is getting better, it's getting busy. That's why I'm able to afford this car that I got now, the Hyundai Sonata," he said.
While the auto industry is showing signs of growth, the future is still uncertain. Unemployment rates reached a 26 year high at 9.6 percent, and are expected to rise to 9.9 for the month of October.
Wiggins says he is optimistic though, and he believes the auto industry will rise at least 20 percent in the next few months. "As people in our neck of the woods get out of the winter months and the economy gets better, we'll see more people coming into the dealership."
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