September a 'tale of two hurricanes' for U.S. new car sales (UPDATE 1)

Major automakers on Tuesday posted a hefty drop in U.S. new vehicle sales for September, caused in part by a drop in sales in areas hit by Florence and a tough comparison to the previous September when consumers rushed to replace vehicles damaged by Hurricane Harvey.

Fiat Chrysler Automobiles NV (FCA) bucked the trend for the month, reporting a 15-per cent jump in U.S. sales led by increases in sales of its lucrative Jeeps - especially its Cherokee and Compass models - and Ram pickup trucks.

The solid performance put FCA's total sales ahead of longtime No. 2 U.S. automaker Ford Motor Co for the month of September.

Hurricane Florence flooded large parts of North Carolina and South Carolina last month, with residents dealing with the deluge instead of shopping for new cars.

Sales in September 2017 were boosted by major replacement demand for water-damaged vehicles following Hurricane Harvey, which had flooded parts of southeastern Texas in August that year.

The seasonally-adjusted annualized rate of sales for September hit 18.1 million units in September 2017 - the highest sales pace since 2005.

Ford Motor Co on Tuesday reported an 11.2 per cent drop in sales, with declines in every major category. Sales of sedans were down nearly 26 per cent, in line with an ongoing trend where U.S. consumers have been abandoning passenger cars for larger pickup trucks and SUVs.

But the No. 2 U.S. automaker also reported a nearly 9-per cent decline for sales of its best-selling, and highly-profitable, F-Series pickup trucks and a 2.7-percent drop in sales of SUVs.

In a conference call with analysts and reporters, Ford's U.S. sales chief Mark LaNeve referred to September as a "tale of two hurricanes."

"Hurricane Florence was a big factor this month," LaNeve said, adding that recovery efforts after the storm were "moving quickly."

General Motors Co reported that its third-quarter sales were down 11.1 per cent versus the same period in 2017. Earlier this year, the No. 1 U.S. automaker stopped reporting monthly sales, arguing that a 30-day snapshot did not accurately portray market trends.

Sales were down at all of GM's major brands, with particularly sharp decreases for passenger cars.

"Our brands are very well-positioned for the fourth quarter when our next wave of new products start shipping in high volume," Kurt McNeil, GM U.S. vice president for sales, said in a press release.

GM has high hopes for all-new versions of its Chevrolet Silverado and GMC Sierra pickup trucks.

Toyota Motor Corp said that its U.S. new-vehicle sales fell 10.4 per cent in September. Sedan sales at the Japanese automaker were off nearly 28 per cent. That included a 17-per cent decline for its flagship Camry, which was completely redesigned for this year with the aim of taking greater market share in the shrinking passenger car market.

Toyota's SUV and pickup truck sales were down 0.3 per cent for the month.

Nissan Motor Co Ltd reported a 12.2-percent drop in sales for September, with a 35.7 per cent decline in passenger car sales more than offsetting a 6.6 per cent rise in the pickup truck and SUV sales.

Sales of Nissan's best-selling vehicle, the Rogue crossover, fell 10.6 per cent in September.

Honda Motor Co Ltd said its sales were off 7 per cent in September, as a 19-per cent decrease in passenger cars outmatched a 6.3 per cent rise in a pickup truck and SUV sales.

The automaker's completely revamped Accord, which like the Camry is a vehicle touted as primed to take market share, saw a 15-per cent drop in sales.

In morning trading, Ford's shares were down 1 per cent at $9.22, while FCA was down 9 cents at $17.90.