Sales of cars in September 2015 were up by a whopping 16% compared to September 2014, an incredible rise given that they only grew by 4% between the first half of 2014 and 2015. Since sales in the US are cyclical by calendar year it’s hard to imagine this growth is driven by any particular effort on behalf of the manufacturers to move more metal off the forecourts. Rather, it’s probably a result of continually improving economic conditions, low gas price and, possibly more than most, people wanting to take advantage of low lease rates before the Federal Reserve Board raises interest rates later this year.
The question on everyone’s mind must be “how much was VW hurt by Dieselgate”? The answer is that it does not seem to have been hurt badly at all, with sales actually growing by 1%. Sure, that’s much worse than the market on average, but it’s not like VW was gaining sales before the scandal hit anyway. The fact is it may take time for the sales figures to fully reflect the extent of the damage – October will give us a better look.