Dec 02, 2014 05:00 PM EST
Auto Sales Still Look Good in November

Auto sales are on a roll, with forecasts predicting that sales industry-wide will hit a pace not seen in a November since 2006.

November new-vehicle deliveries are expected to surpass 17 million for the month, which would mark only the second time since 2006 that the industry has seen that high a rate for sales, the Detroit Free Press reported.

Chrysler enjoyed stellar sales, reporting a jump of 20 percent and its best November since 2001. Its Jeep lineup and Ram pickup offerings boosted sales for the automaker, which handily beat analysts' expectations for November sales.

Lower gasoline prices and a stronger economy are credited for the continued upswing in car sales.

"The buzz around Black Friday helped drive strong showroom traffic but there was a lot more at work in the market," Kurt McNeil, U.S. vice president of sales operations for General Motors, said in a statement.

"More people have jobs and job security, their wages are starting to increase, household wealth is growing and low pump prices look like they're here to stay through 2015. All of this helped deliver an exceptional month and it will help keep auto sales at very healthy levels going forward."

Reporting its best November in seven years, GM delivered 225,818 vehicles last month and posted a sales increase of 6 percent compared with the same period in 2013.

Toyota, Scion and Lexus posted more modest results but still saw increased sales in an unadjusted monthly rate, reporting a year-over-year increase of 3 percent for November. After adjusting to account for 25 sales days this November compared with 26 sales days the previous year, sales increased by 7.1 percent, according to the automaker.

"Auto industry sales during Thanksgiving weekend were even better than expected," Bill Fay, Toyota division group vice president and general manager, said in a statement. "Consumer demand for light trucks continues unabated and Toyota dealers set new November sales records for light trucks and SUVs."

Honda also had a strong November sales, posting a sales record of 121,814 vehicles that reflected a 5 percent increase year over year. Ford and Hyundai were the odd ones out, posting sales that fell by 2 percent and 4 percent, respectively.

The American automaker has been scaling back and also putting money into facilities as it makes way for new models including its risky but innovative Ford F-150 pickup.   

See Now: OnePlus 6: How Different Will It Be From OnePlus 5?

 PREVIOUS POST
NEXT POST 

EDITOR'S PICK    

Hyundai to Invest $16.1 Billion for EV Business; Sets Annual Sales Goal of 1.87M Electric Cars by 2030

World's Most Expensive and Most Heavily-optioned Porsche 928 GTS is Coming Home to the U.S.

Major Boost as Tesla Giga Berlin Facility in Final Phase of Approval Process; Delivery Event Set This Month

Audi Looking for e-tron Electric Vehicles to Spur Car Brand's Growth in India in 2022

Toyota Offers Free EV Charging to Owners of 2023 bZ4X After Partnership Agreement with EVgo

2022 Suzuki Baleno Finally Unveiled in India: What are the Specs and Features of this City Car?