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Detroit automakers reported a patchwork October sales tally on Monday — mostly reflecting boom and bust within the brands. Cheaper fuel renewed buyers’ interest in the brand’s bigger vehicles. And a combination of low interest rates and loans averaging just less than six years gave fancier models still-affordable monthly payments. Import brands generally finished with stronger sales increases, though many had similar internal face-offs as some models, despite redesigns, did poorly, while others found plenty of buyers. Overall industry sales continued the year’s gains, with the annualized sales pace for October at 16.46 million vehicles, vs. 15.38 million a year ago and a year-over-year percentage gain of 6.1% to 1.28 million new cars and trucks in the U.S.
Source: USA Today
The number of claims filed with General Motors ignition switch compensation fund rose by more than 12 percent over the last week, but no new claims were approved. Compensation fund adviser Ken Feinberg’s office said 1,772 total claims had been filed by Friday, including 196 for fatalities. That’s up from 1,580 total claims the previous week, including 193 death claims. But the number of approved claims remains at 30 death and 31 injury claims. GM initially said 13 deaths were linked to the ignition switch defect. Since the fund began reviewing claims, this is the first week that no new claims were approved.
Source: The Detroit News