Newspaper article THE JOURNAL RECORD

October Auto Sales Rise for Tenth Month

Newspaper article THE JOURNAL RECORD

October Auto Sales Rise for Tenth Month

Article excerpt

By Bill May

Journal Record Staff Reporter

Auto sales in metropolitan Oklahoma City continued on an upward swing in October, marking the 10th month this year in which sales surpassed a year-earlier period, according to trade association figures released Wednesday.

Franchised new car dealers sold 7,657 new and used cars and light-duty trucks in October, up 15.44 percent from 6,633 in October 1991, the Metropolitan Auto Dealers Association reported.

Sales were up in all categories from October 1991, but only the strong demand for late-model, low-mileage used cars kept total sales up from September. October's total was up 1.89 percent from 7,515 in September.

New car and new truck sales both were down from September, even though there were 27 selling days in October and only 26 selling days in September.

"But our measuring stick, the important figure to look at, is that total sales have been up from the previous year every month this year," Bill Roby, the association's executive director, said. "All year long, the trend has been upward.

"In previous years, the trend would be for sales to increase for one, two or three months, then go back down. That has not been the case this year.

"1992 started higher than 1991 ended and has remained on that level all year. July was the best month we've had since we've been keeping these records."

Main reason for sales increases is because "dealers want to sell cars, and the consuming public wants to buy cars. When you have a combination like that, you've got a winner," Roby said.

Increased car sales reflect the local economy, Roby said, which is improving steadily.

"Just look at home sales. They are up, and when that happens, car sales are the second thing to start registering," he said. "I look for unemployment to drop next, for that's the third thing that happens when the economy improves.

"The attitude to buy is there, and attitude in this business is everything. If we just have a normal November and December, then we're going to end the year with the best year we've had at least since 1987 when we started keeping these records. …

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