U.S. Automakers Post Strong Sales For November

General Motors (NYSE:GM), Ford Motor Company (NYSE:F) and Chrysler all enjoyed a surprisingly strong month of sales in November. Overall, the industry reported a SAAR (seasonally adjusted annual rate of sales) of 13.6 million units, according to Autodata, up from 12.28 million in November 2010. Total deliveries rose 13.9% from a year earlier.

GM reported it sold 180,402 cars and trucks, paced by a 34% increase in sales of the Chevy Silverado and a 22% rise in sales of the GMC Sierra. GM saw retail sales rise 15% while fleet sales dropped 14%.

“We are seeing a broad spectrum of customers return to the market,” said Don Johnson, GM’s head of U.S. sales operations. “Truck sales showed a very solid increase, as we expected, but the momentum building behind our most fuel-efficient vehicles was even stronger.”

Ford reported a 13.3% rise to 166,865 for cars and trucks. The improvement was helped by a 20% gain in retail sales. Ford said the increase helped bring its retail market share to an average of 15% over the past three months, its highest level in five years. Ford also raised its first-quarter production forecast by 3% to 675,000 vehicles.

“The industry sales rate has exceeded 13 million in each of the last three months,” said Ken Czubay, head of Ford’s U.S. sales division. “This suggests the current momentum is not an aberration. We believe replacement demand will continue to support stronger levels in 2012, and Ford is ready to meet that demand with high-quality, fuel-efficient cars, utilities and trucks.

Chrysler Group LLC was the biggest winner Chrysler posted a 45% surge in sales to 107,172 cars and trucks. That marks the twentieth consecutive month of year-over-year improvements, the best November since 2007.

Also reporting strong November sales were Toyota Motor Corporation (NYSE:TM) and Nissan. Honda Motor Company (NYSE:HMC) took a 6.4% drop in sales.

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An experienced trader with a background in political science, Marc got his start as an individual trader surfing the old stock message boards. He is always on the lookout for the next big winner.
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