UPDATE: Toyota announced a 17.2 percent rise in November auto sales from a year earlier, missing analysts' consensus estimate of a 20 percent gain.
EARLIER: GM reported monthly auto sales figures well below expectations. The company said sales rose 3.4 percent versus analysts' consensus estimate of 7.6 percent.
Below is an excerpt from the GM release:
“The East Coast’s ongoing recovery from Hurricane Sandy helped drive the November SAAR materially higher, but it benefited our competitors more than GM, since they rely on the region for more of their sales,” McNeil said.
“It’s clear that the industry will come in at the high end of our full-year sales forecast,” he added. “Exactly how much growth we can expect next year will depend in part on how Congress and the president resolve the fiscal cliff issue. Consumers hate uncertainty, so an agreement on ways to reduce long-term federal budget deficits could remove an impediment to growth.”
EARLIER: Ford Motor just released monthly auto sales figures for November, rising 6.4 percent from a year earlier versus expectations of a 2.4 percent gain as the industry continues to recover from the effects of Hurricane Sandy.
Nissan also posted a monster month, with sales up 12.9 percent versus estimates of a 4.8 percent rise.
Below is an excerpt from the Ford release:
November brought growth throughout Ford's product portfolio in the U.S., with car sales up 15 percent, utilities up 2 percent and trucks up 4 percent.
"November represented a strong month for the industry, and Ford sales performed well across the board," said Ken Czubay, Ford vice president, U.S. Marketing, Sales and Service. "We saw sharp increases in demand for Ford's fuel-efficient small cars, our best-ever month for electrified vehicles and growing demand for our fuel-efficient and capable F-Series pickups."
Ford had its best small car November sales month since 2000, with Focus, the all-new C-MAX Hybrids and Fiesta sales totaling 26,848 vehicles – a 76 percent increase over last year. Focus sales were up 56 percent versus year-ago levels, while the all-new C-MAX Hybrid lineup gained 52 percent versus October, when the C-MAX Energi went on sale.
The Ford F-Series, America's best-selling vehicle, posted an 18 percent increase, with 56,299 vehicles sold in November. This represents F-Series' best November since 2005 and 16 straight months of year-over-year sales increases.
Ford's total November sales of 177,673 vehicles increased 6 percent versus last year, with retail sales up 12 percent.
Ford also announced its 2013 first-quarter North American production plan. The company plans to build 750,000 vehicles in the first quarter, up 11 percent (73,000 vehicles) from 2012's first quarter. Fourth quarter production of 725,000 vehicles is unchanged from previous guidance.
Chrysler kicked things off this morning, announcing a 14 percent rise in November sales from the previous year. However, analysts were expecting a 16 percent gain.
Nonetheless, it was Chrysler's best November in five years. One executive shrugged off the fiscal cliff in the press release and hinted that Hurricane Sandy still is weighing on sales:
“Even with all the talk of a looming fiscal cliff, Chrysler Group is well positioned for a strong sales finish to the year,” said Reid Bigland, President and CEO – Dodge Brand and Head of U.S. Sales. “Our November sales were up 14 percent and we extended our sales streak to 32-consecutive months of year-over-year sales gains. We are expecting a strong December as the industry continues to recover from the East Coast hurricane and consumers continue to respond to our popular year-end Big Finish event.”
Analysts project that November was a blockbuster month for total vehicle sales. The consensus estimate is a rise to 15.00M units sold at a seasonally adjusted annual rate (SAAR), up from 14.22M in October.
We will add sales figures and releases from GM, Ford, Toyota, Honda, and Nissan as they report throughout the day. Click here for live updates >
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