Automakers Sales Increased in November in the U.S.

Automakers in the United States beat the blahs of Black Friday that hit some other retailers by producing strong sales on cars and light trucks as the consumer jumped at the deal for the holiday season.

General Motors, Chrysler Group and Honda Motor posted on Tuesday their best U.S. Sale for November in the past several years, powered in part by strong demand sport-utility vehicles and large size pickup trucks.

Ford Motors the No. 2 automaker in the U.S. said its sale dropped by 2% due to the company starting deliveries of its redesigned F-150 pickup.

Overall, the U.S. light truck and car sales reached a 17.1 million annualized rate for November. That is the highest for November in sales since 2003 as well as being up from the same time one year ago of 16.3 million.

Executives in the industry expressed optimism that the sales would remain strong over the coming months, citing gas prices that are falling, an improved job market and the still low rates of interest.

Automakers could also benefit from the launch in mid November of the annual holiday season promotions. The week prior to Black Friday was very strong said on industry expert.

By launching promotions early at the end of the year, the automakers in essence are creating a sale of 60 days.

European carmakers posted results that were mixed. BMW sales dropped less than one percent due mainly from a drop in its sales of SUVs of 14%.

The carmaker based in Munich, Germany said its SUVs made in South Carolina and U.S. dealers must fight for a share of production with dealers in Europe, China and other markets.

Volkswagen said its sales were up 3% for its VW brand helped by its lease promotion that increased the sale of its Jetta and Golf vehicles.

The Audi Luxury unit says an increase of 22% for sales during November.

Daimler AG announced that its Mercedes-Benz SUVs and autos were up less than 1%, despite the drop off in it E-class cars. Mercedes announced it has recorded its best U.S. month ever in sales.

U.S. sales at GM were up 6.5% for a total of 225,800 in November.

Latest News

Retail Opportunity Investments Corp  Expected to Announce Earnings of $0.29 Per Share
Retail Opportunity Investments Corp Expected to Announce Earnings of $0.29 Per Share
Andeavor Logistics LP  Receives $50.67 Consensus Target Price from Analysts
Andeavor Logistics LP Receives $50.67 Consensus Target Price from Analysts
Somewhat Positive Media Coverage Somewhat Unlikely to Impact Gemphire Therapeutics  Stock Price
Somewhat Positive Media Coverage Somewhat Unlikely to Impact Gemphire Therapeutics Stock Price
Aviat Networks  Given Daily Media Impact Rating of 0.09
Aviat Networks Given Daily Media Impact Rating of 0.09
Papa Murphy’s  Getting Somewhat Positive News Coverage, Report Shows
Papa Murphy’s Getting Somewhat Positive News Coverage, Report Shows
EXFO  Given Average Recommendation of “Hold” by Brokerages
EXFO Given Average Recommendation of “Hold” by Brokerages


© 2006-2018 Ticker Report. Google+.