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Throughout The Car Industry

Automakers Post Big Gains For November

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On: Fri, Dec 3, 2010 at 11:04AM | By: Sherry Christiansen

Automakers Post Big Gains For November

The news for the automotive industry just keeps getting better!  GM, Ford Motor Co., Volkswagen, and Subaru have all posted double digit sales increases for November.  Just as analysts have predicted, the auto industry would reach a rate of over 12 million for its annual adjusted selling rate. Octobers’ rate was 12.2 indicating that slowing of sales was minimal in the seasonally slower November/December period, a sign that the automotive industry is recovering from last years’ record low.

November sales have jumped 20% for Ford, 22% for Subaru, and 12% for General Motors. Ford Motor Company posted sales of 146,956 last month, GM’s sales increase translated to 168,670 units, and Subaru reportedly sold 20,792 vehicles in November.

Volkswagen posted a 24.2 % increase in sales last month, sales of the Jetta rose 40% compared to last November.

“GM's sales were better than we expected,” said Rebecca Lindland, director of strategic review for IHS Automotive, which forecast GM sales to be 162,000 for the month. “They aren't blowing the doors out, but it's a slow, steady recovery.”

Toyota is the only major automaker with declining November sales, down 2% from last November, according to Edmunds and TrueCar.com.

According to Automotive.com; “It illustrates the difficulties Toyota still faces in winning back U.S. consumers, more than a year after starting recalls that rocked its reputation for quality and safety.”

Ford’s sales record factors its gain since November of last year when the Detroit Auto Maker owned Volvo with Ford has since sold. If you factor out the sales of the Swedish unit, Ford’s numbers reflect closer to a 24% sales gain.

Buick showed the sharpest rise in sales for General Motors with a 36% increase since last November. Cadillac was up 21% and Chevy rose by 18%. GM attributes its rise in sales to an increase in sales incentives coupled with a “rebound in consumer demand,” according to automotive news.com

“The pace of light vehicle sales appears to have remained above the important psychological level of 12 million units in November,” Barclays analyst Brian Johnson said last week.

Barclays now predicts that automotive sales will reach 12.1 million this year on an annual adjusted selling rate; Barclays stated that at that pace; “That would be strong enough to show that “the consumer is crawling back, particularly in the more affluent and higher quality credit segments.”

Barclays anticipated that Ford would have the biggest sales gains of the major U.S. automakers. “We're starting to feel better about how the market is going,” said Jessica Caldwell, an analyst at Edmunds.com. “It looks like we're in that slow recovery pattern.”

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