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US auto sales rise in November

By Ritika Sharma Subscribe to RSS | December 3rd 2011 | Views:
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Despite, a sluggish economy and a weak employment sector, car sales in United States surged in November, their fastest pace in two years, reflecting a lot of pent-up demand.

According to a report released Thursday by Autodata Corp., the industry registered sales of 13.63 million in November, up 13.9 percent from a year earlier.

The statistics surpassed the 13.4 million average projected by analysts, and is the strongest since August 2009, when sales were helped by the cash-for-clunkers economic stimulus program.

“Consumers have been waiting for this. Cars are getting old, and people are getting to the point where they need to replace them. There’s recession fatigue and people want to buy. We’re getting tired of being in this saving pattern,” said Edmunds.com Senior Analyst Jessica Caldwell.

General Motors and Ford

Ford Motor Co. reported a 13 percent increase in sales, spurred by the demand for the new Explorer SUV which has increased more than three times over last November. Sales of the Escape were also strong.

Sales of Ford's sport-utility vehicles were up 29 percent, but sales of cars fell 8.8 percent. The market for the Focus model declined for a fifth-consecutive month.

“Consumers have been waiting for this. Cars are getting old, and people are getting to the point where they need to replace them. There’s recession fatigue and people want to buy. We’re getting tired of being in this saving pattern.” --Edmunds.com Senior Analyst Jessica Caldwell

The Ford F-Series pickup was a popular purchase in America, with sales rising 24 percent, making it the best monthly performance for the brand since 2006.

General Motors' (GM) sales were up 7 percent in November. GM witnessed a 34 percent increase in sales of the Chevy Silverado, a 22 percent rise in sales of GMC Sierra and a 54 percent jump in sales of Chevrolet Cruze.

GM's passenger car sales registered a one percent gain while sale of its trucks gained 25 percent.

Don Johnson, G.M.’s vice president of United States sales operations, said, “Truck sales showed a very solid increase, as we expected, but the momentum building behind our most fuel-efficient vehicles was even stronger.”

Other automakers

The Chrysler Group was the biggest gainer this month with sales surging 45 percent to 107,172 vehicles, its best since November 2007. The Chrysler brand registered a 92 percent increase in sales, and Jeep brand sales rose 50 percent.

“November was another huge month for the Chrysler Group and our highest year-over-year sales gain of 2011,” Reid Bigland, president and head of U.S. sales for Chrysler and CEO of Dodge, said in a statement.

The Volkswagen group reported a gain of 41 percent, thanks to the new Jetta and Passat sedans. Sales of Nissan shot up 19 percent due to strong market for its Versa and Sentra small cars.

Toyota Motor Co reported an increase of 7 percent in sales while that of Honda Motor were down 6.4 percent.

Ritika Sharma - About Author:
Here you can get the latest updates about Finance news. Get more details about Finance and investment news .

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