NEW YORK, NY--(Marketwire - Oct 3, 2012) - U.S. auto market sales have been surprisingly strong in 2012 despite concerns of a global economic slowdown. Aging vehicles combined with high gasoline prices have sent consumers flocking to showrooms in search of more fuel efficient vehicles. Five Star Equities examines the outlook for companies in the Auto Manufacturers Industry and provides equity research on Honda Motor Co. Ltd. (
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Auto Sales in the U.S. are on pace to reach 14.5 million vehicles in 2012, 1 million more than 2011. Sales in September were led by German carmaker Volkswagen who reported a 34.4 percent increase from a year ago. General Motors and Ford Motor reported vehicle sales were flat in September, while Toyota reported a 42 percent jump.
"We've seen a number of year-on-year increases in terms of the overall demand, the overall size of the marketplace," said Jonathan Browning, CEO and President of Volkswagen Group of America. "It's growth but it's not spectacular. There are some positive signs but it's nothing to get carried away with yet."
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Honda Motors reported September sales surged 31 percent to 117,211 vehicles. Sales of the company's popular Accord and Civic models led the way with gains of roughly 57 percent from the year prior. "The all-new 2013 Accord hit dealerships in mid-September and our dealers are already seeing a significant increase in customer traffic surrounding the new model," said John Mendel, American Honda executive vice president of sales.
Toyota has continued to recover from last year's earthquake which caused sales to drop dramatically. The company's strong gain in September was led by strong sales of the new Camry, which surged 37.8 percent. Toyota's U.S. sales were 171,910 vehicles in September, up from the 121,451 vehicles in the same month a year prior.
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