Spurred by a 20 percent gain at Chrysler Group and aided by Black Friday discounts and light-truck demand, U.S. light-vehicle sales jumped 5 percent last month, pushing the annualized pace of deliveries above 17 million for the second time this year.
The seasonally adjusted annual rate of 17.2 million fell shy of August’s 17.5 million. But it showed that demand remains robust as the industry winds up its fifth year of recovery since the recession.
Some analysts, however, warned that November’s surge could steal some sales from December.
Sales of cars, crossovers, minivans, SUVs and other vehicles totaled 1.3 million in November, the highest tally for the month since 2001. Light-truck volume jumped 9 percent while car deliveries slipped 0.1 percent.
“Automakers were keen marketers in November, tapping early into Black Friday magic to boost sales to levels not seen in more than a decade,” said John Krafcik, president of the TrueCar online car-buying service. “While the deals were good, automakers held the line on incentives.”
Subaru led all automakers with a 24 percent gain. General Motors, helped by strong truck and SUV deliveries, rebounded from a soft October with a 6 percent advance. American Honda Motor Co. set a November record with combined Honda and Acura sales of 121,814 units, an increase of 5 percent.
Toyota Motor Corp. and the VW brand each rose 3 percent. Volumes at Ford Motor Co. and Nissan Motor Corp. declined. Kia and Hyundai also fell.
Among GM brands, sales rose 27 percent at Buick, 23 percent at GMC and 3 percent at Chevrolet. Volume dropped 19 percent at Cadillac. GM’s retail deliveries edged up 5 percent and fleet volume jumped 11 percent.
Edmunds.com estimated GM’s incentives rose 23 percent in November to $3,505 from a year earlier.
“The buzz around Black Friday helped drive strong showroom traffic but there was a lot more at work in the market,” Kurt McNeil, vice president for U.S. sales operations at GM, 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.”
Source-Auto News
