Tuesday, December 4, 2012

Chrysler, Ford, GM and Toyota have Promising November Sales

Now that Hurricane Sandy and the presidential election are over, car shoppers have become very interested in dealer lots since last month and the numbers are supposedly the biggest since early 2008. Rising November auto sales were reported by Chrysler, Ford, General Motors, Nissan, Hyundai and Volkswagen.

According to analysts, automakers sold 1.1+ million vehicles a month back, for a seasonally adjusted annual rate of about 15 million. Jesse Toprak, an analyst for auto information company TrueCar.com confirms that the annual sales rate is the highest since February 2008. He stated that import brands increased their spending on incentives and discounts last month and probably outpaced the domestic nameplates.

But automakers are concerned about the budget issues. Kurt McNeil, vice president of U.S. sales operations at General Motors, said that although auto sales look good as of now to reach the higher end of the automaker's forecast, but the growth rate in 2013, hangs in balance as it depends partly as to how the president and Congress find a solution for the fiscal cliff issue.

Here are some of the sales figures:
·         General Motors had deliveries going up 3% to 186,505 vehicles.
·         Ford’s sales went up 6.5% to 177,673 vehicles.
·         Chrysler sales moved up 14% to 122,565 units.
·         Nissan reported sales going up 13% to 96,197 vehicles.
·         Toyota sales rose 17% to 161,695 vehicles.
·         Hyundai figures were up 8% to 53,487 vehicles.
·         Las but not the least, Volkswagen did well by going up 29% in sales to 36,728 vehicles.

Auto information company, Edmunds.com revealed that since 250,000 vehicles were damaged or destroyed by Sandy, the new car and truck sales will be 65,000 to 80,000. Alec Gutierrez, senior market analyst for Kelley Blue Book feels that it will be one of the best Decembers for automakers.

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