Major Automakers Report Strong November U.S. Sales

(RTTNews) - Major automakers on Tuesday reported strong U.S. vehicle sales for the month of November, helped by an improving economy, easing energy prices and easy availability of credit. Chrysler Group LLC led the race with a 16% jump in U.S. vehicles sales, while General Motors Co. (GM) posted a 13.7% gain, Japanese automaker Toyota Motor Corp. (TM) reported a 10.1% rise and Ford Motor Co. (F) announced a 7.2% increase.

GM, the largest U.S. automaker, said that its November U.S. sales rose 13.7% to 212,060 vehicles from 186,505 vehicles in the same month last year.

There were 26 selling days for November 2013, compared to 25 for last year.

GM said this is the highest November sales in six years. Retail sales increased 19%, but fleet sales fell 3% for the month.

All of GM's four brands reported double-digit sales growths. Chevrolet sales rose 12.6% to 145,089 units, while GMC sales grew 19.8% to 35,727 units, Cardillac sales increased 11.4% to 16,172 units and Buick sales climbed 13.4% to 15,072 units.

"November sales were strong at all four of our brands, and demand was robust for everything from cars to crossovers to the industry's newest and best full-size pickups," said Kurt McNeil, GM's vice president, U.S. sales operations.

"We feel good about the direction of the economy and our own momentum," McNeil said. "The economy is creating jobs and household wealth. Energy costs are dropping and credit is available and affordable. All of this bodes well for future growth."

Dearborn, Michigan-based Ford said it sold 190,449 vehicles in the U.S. in November, up 7.2% from 177,673 vehicles sold in the same month last year. For October, Ford had reported an 14% rise in U.S. vehicles sales.

Ford's car sales rose 6% year-over-year to 58,983 units in November and truck sales for the month surged 15.5% to 78,693 units, while utility vehicle sales fell 2% to 52,773 units.

Ford's November U.S. retail sales were up 9%, for the best November performance since 2004. Passenger cars achieved the best November retail sales result since 2002, with Ford Fusion and Ford Fiesta both posting records, the automaker said.

"We continued to see sales increases across our full family of vehicles - particularly with our passenger cars and utilities in conquest coastal markets - helping us post our best November retail sales performance since 2004," said John Felice, Ford vice president, U.S. marketing, sales and service. "Fusion and Fiesta were particular standouts, setting November records, and Ford trucks maintained their strong selling pace."

Fusion had its best-ever November sales with 22,839 vehicles sold, up 51% from a year earlier. Fiesta sales surged 25.9% from last year to 4,642 vehicles, its best November sales ever.

Sales of Ford's F-Series truck, America's best-selling truck for 36 years in a row and America's best-selling vehicle, car or truck, for 31 straight years, rose 16.3% to 65,501 units in November, its 28th straight month of sales increases.

Ford said it will build 770,000 vehicles in North America during the first quarter of 2014, down from 784,000 vehicles built in the first quarter of 2013. The automaker left its fourth quarter 2013 North America production forecast unchanged at 770,000 vehicles.

Ford was less ravaged by the recession than most of its peers. The company also did not have to restructure with federal assistance. The automaker has reported a profit for each of its last seventeen quarters. The company has also reinstated its quarterly stock dividend.

Chrysler Group LLC, majority-owned by Italian carmaker Fiat SpA (FIATY.PK), reported U.S. sales of 142,275 units for November 2013, a 16% increase from the prior year's 122,565 units. This marks the 44th consecutive month of year-over-year sales gains for Chrysler.

Chrysler's total car sales for the month fell 7% year-over-year to 33,967 units, while total truck sales surged 26% to 108,308 units.

Toyota Motor Sales, U.S.A., Inc., a unit of Japan's Toyota Motor Corp. (TM), said its November sales rose 10.1% year-over-year to 178,044 vehicles.

Among other automakers reporting U.S. vehicle sales Tuesday, Nissan Motor Co. Ltd. (NSANY.PK) said its U.S. vehicle sales for the month of November increased 10.7% to 106,528 units from 96,197 units last year. Nissan division recorded sales of 93,376 units, up 10.8% from 84,300 units last year. Sales of Infiniti vehicles also set a November record with 13,152 deliveries, up 10.5%. Total car sales improved 14.8% to 60.276 units, while total truck sales were 40,361 units, down 7.6% over a year earlier.

GM shares are currently trading at $38.22, down 90 cents or 2.29%, while Ford shares are currently trading at $16.58, down 48 cents or 2.84%.