Major Automakers, Except Ford, Report Higher November U.S. Vehicle Sales

(RTTNews) - Major automakers on Tuesday reported strong U.S. vehicle sales for the month of November, helped by an improving economy, rising consumer confidence and falling fuel prices. General Motors Co. (GM), Chrysler Group LLC and Toyota Motor Corp. (TM) all reported higher sales for the month, but Ford Motor Co.'s (F) sales were down ahead of the introduction of the all-new Mustang and F-150.

GM, the largest U.S. automaker, said that its November U.S. sales rose 6.5% to 225,818 vehicles from 212,060 vehicles in the same month last year.

The automaker said this was its best November U.S. sales since 2007.

There were 25 selling days for November 2014, compared to 26 for last year.

For November, GM's retail sales were up 5%, while fleet sales were up 11% from a year ealier.

Among GM's four brands, Chevrolet sales grew 3.2% to 149,673 units, GMC sales surged 22.7% to 43,854 units and Buick sales increased 27.0% to 18,143 units, while Cardillac sales fell 18.7% to 13,148 units.

GM's average transaction prices were a record $35,600, up $790 per unit from October and up $3,100 from a year ago.

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

GM's strong sales performance continued despite a series of recalls announced by the automaker recently. Also in October, GM reported an 82% jump in third quarter profit, reflecting strong operating performance in North America and China.

GM is establishing its flagship Cadillac brand as a separate business unit headquartered in New York City to pursue growth opportunities in the luxury market. Cadillac expects to introduce four new vehicles in North America in 2015.

Dearborn, Michigan-based Ford said it sold 187,000 vehicles in the U.S. in November, down 1.8% from 190,449 vehicles sold in the same month last year. For November, Ford had reported a 1.7% drop in U.S. vehicles sales.

The automaker said the sales decline was anticipated, as it manages its inventory levels as vehicle availability starts growing for the all-new Ford Mustang, F-150 and Transit models.

Ford's car sales dropped 6.4% year-over-year to 55,186 units in November and truck sales for the month fell 9.9% to 70,903 units, while utility vehicle sales surged 15.4% to 60,911 units.

Sales of Ford's F-Series truck, America's best-selling truck for 37 straight years and the country's best-selling vehicle for 32 consecutive years, dropped 9.9% to 59,049 units.

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 21 quarters. In October, the company reported a 34% decline in third quarter profit, reflecting lower revenue and volume.

Chrysler Group LLC, which is now a wholly-owned subsidiary of Italian automaker Fiat S.p.A. (FIATY), said its U.S. vehicle sales for November rose 20% to 170,839 units from 142,275 units in November last year, marking the 56th consecutive month of year-over-year sales gains. This is also Chrysler's best November U.S. sales since 2001.

The Chrysler, Jeep, Dodge, Ram Truck and FIAT brands each posted year-over-year sales gains in November.

"Sales of our all-new Chrysler 200 sedan were up a strong 155 percent in November, helping Chrysler Group to achieve its 56th-consecutive month of year-over-year sales gains," said Reid Bigland, Head of U.S. Sales. "In total we had 11 vehicles last month that set new sales records."

Chrysler, which was once part of German automotive company Daimler AG, emerged from Chapter 11 reorganization in June 2009 and was bought by Italian automaker Fiat in a U.S. government-brokered deal. Fiat completed the 100% acquisition on January 21, 2014.

Toyota Motor Sales, U.S.A., Inc., a unit of Japan's Toyota Motor Corp. (TM), said its November sales rose 3% year-over-year to 183,346 vehicles.

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

Among other automakers reporting U.S. sales Tuesday, Nissan North America Inc., a unit of Nissan Motor Co. Ltd. (NSANY.PK), said total U.S. sales for November 2014 fell 3.1% to 103,188 vehicles. Nissan Division November sales declined 1.7% to 91,790 units, while Infiniti sales dropped 13.3% to 11,398 units.

GM shares are currently trading at $33.32, up 38 cents or 1.15%, while Ford shares are currently trading at $15.91, up 14 cents.