The top three automakers in the United States – namely General Motors Company (NYSE:GM), Ford Motor Company (NYSE:F), and Chrysler Group LLC reported strong sales performance for the month of November, beating estimates.
General Motors reports highest sales in six years
General Motors Company (NYSE:GM) reported that its dealers in the United States sold 212,060 vehicles. The company’s vehicle sales increased by 14% compared with the 13.5% estimate for the month. According to the automaker, its performance is the highest November sales in six years.
Kurt McNeil, vice president, U.S. sales operations of General Motors Company (NYSE:GM) said the sales of the four brands of the automaker were strong. He said, “Demand was was robust for everything from cars to crossovers to the industry’s newest and best full-size pickups. The sheer number of award-winning new models we have helped us grow faster than the industry for the second month in a row.”
Ford sees uptick in Fusion and Fiesta sales
On the other hand, Ford Motor Company (NYSE:F) said its vehicle sales in the country increased by 7% compared with the 5.6% expectations. The company sold 190,449 vehicles, which is the best retail sales performance of the company since 2004.
John Felice, vice president U.S. marketing, sales and service at Ford Motor Company (NYSE:F) said the company’s family of vehicles continue to deliver sales increases particularly its passenger cars and utilities. According to him, Ford’s Fusion and Fiesta brands standout setting sales records in November. The company sold 22,839 Fusion vehicles and 4,642 Fiesta vehicles.
Chrysler’s Jeep Cherokee leads the way
[drizzle]Meanwhile, Chrysler Group LLC reported a 16% increase in vehicle sales, its best November sales performance since 2007 compared with the 11% sales gain estimated by analysts. The automaker sold 142,275 vehicles for the month.
Chrysler’s Head of U.S. Sales, Reid Bigland, said the automaker’s Jeep Cherokee had a terrific start with 10,169 units sold in November. He said, “Our launch emphasis on Jeep Cherokee quality is now being rewarded with brisk sales and helping Chrysler Group achieve our 44th-consecutive month of year-over-year sales growth.”
Commenting on the strong sales performance of the automakers, Peter D’Antonio, head of U.S. economic forecasting at Citigroup Inc (NYSE:C) said, “Motor vehicle sales likely surged back to summer highs in November. Consumers who probably balked at making such a major purchase during the October’s budget showdown returned to dealer showrooms.”