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Auto Roundup: November U.S. Sales Up Dramatically, Continuing Strong 2015

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Auto Roundup: November U.S. Sales Up Dramatically, Continuing Strong 2015
  • Automakers on Tuesday released U.S. sales data amid strong expectations.
  • General Motors Company (NYSE: GM), Ford Motor Company (NYSE: F), and Fiat Chrysler Automobiles NV (NYSE: FCAU) all posted strong monthly gains.

The seasonally adjusted annual selling rate (SAAR) for light vehicles was estimated at 18.2 million units in November – on track to outperform the record of 17.8 million which occurred in 2000.

General Motors: Sales Up 10 Percent

General Motors sold 229,296 vehicles in the US throughout November, up 2 percent year-over-year. Given two fewer selling days, the company noted an adjusted basis to its total sales were up 10 percent.

General Motors' retail sales were up 4 percent year-over-year, or 14 percent when adjusted for selling days. The company said it gained an estimated 1.0 points of retail market share to reach 16.5 percent, marking its eighth consecutive month of year-over-year increases.

"We believe U.S. auto sales will continue to grow in 2016, based on the underlying strength of the economy, and we expect customers will continue to embrace crossovers and SUVs because they are meeting their fundamental needs for utility, comfort and fuel efficiency," said Mustafa Mohatarem, General Motors' chief economist.

Ford: Best Truck Sales Since November 2007

Ford sold 187,794 vehicles in the US throughout November, up 0.4 percent versus last November. The company highlighted its strong F-series retail sales which rose 16 percent in the month, driving total F-Series sales to a 10 percent gain, with commercial vans up 59 percent. As such, the company saw its best November Ford Truck performance since November 2007.

The company said that through November, overall sales are up 5 percent versus the same time period a year ago.

"We saw strong customer demand for our cars and SUVs with the latest technology and sold a very rich mix in November," said Mark LaNeve, Ford vice president, U.S. Marketing, Sales and Service. "F-Series and commercial vans also were very strong, with an 18 percent gain for the month and our best November sales performance for Ford Trucks in eight years."

Fiat Chrysler: Best November In 15 Years

Fiat Chrysler sold 175,974 vehicles in the US throughout November, marking its best November performance since 2000.

The company's monthly sales rose 3 percent compared to its November 2014 sales.

Fiat Chrysler said that November was its 68th consecutive month of year-over-year sales gains as the Jeep brand had its best November sales ever. The company also noted that the Dodge Challenger and Dodge Journey, and Ram pickup trucks all registered their best November sales ever.

"Despite having two less selling days this November, FCA US still recorded its best November sales since 2000 and our 68th consecutive month of year-over-year sales increases," said Reid Bigland, Head of U.S. Sales. "The favorable I.O.U. environment of low interest rates, oil prices, and unemployment, coupled with our strongest product line up ever, continues to be a significant driver of FCA sales."

Other Manufacturers

Toyota Motor Corp (ADR) (NYSE: TM) November US sales rose 3.4 percent from a year ago to 189, 517 units.

Honda Motor Co Ltd (ADR) (NYSE: HMC) November US sales fell 5.2 percent from a year ago to 115,441 units.

Posted-In: auto sales Mark LaNeve Mustafa Mohatarem November Auto Sales Reid BiglandNews Retail Sales Intraday Update Best of Benzinga

 

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