November 2011 Auto Sales
11-30-11 | 07:39 PM
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November 2011 Auto Sales
Consumers who set records for retail purchases during Thanksgiving weekend helped boost U.S. auto sales in November, which may have run at the fastest pace in more than two years.
Light-vehicle sales in November, to be released tomorrow, may have run at a 13.4 million seasonally adjusted annual rate, the average of 14 analysts surveyed by Bloomberg. That would top the 12.3 million pace of a year earlier and October's 13.3 million rate, which was the best month since sales were helped by "cash for clunkers" in August 2009.
Consumers spent a record $52.4 billion during the holiday weekend, excluding autos, according to the National Retail Federation. General Motors Co. put a Santa Claus look-a-like in its "Chevy's Giving More" ads, while Honda Motor Co. wished buyers "Happy Honda Days" with 0 due at lease signing, enticing buyers who have deferred auto purchases.
"The automakers are sending the consumer buying signals right now," Jessica Caldwell, an analyst for researcher Edmunds.com, said Tuesday in a conference call. "The year-end sales, Thanksgiving sales, Black Friday sales, holiday sales, whatever it is, there's some sort of sale out there. It makes sense for consumers that if now is the time to buy something, from jewelry, to a flat-screen TV, it must also be a good time to get a deal on a car, too."
Analysts at Jefferies Inc., IHS Automotive and TrueCar.com may now increase their estimates for 2012 deliveries as Toyota Motor Corp. and Honda production recovers from natural disasters in Japan and Thailand. Demand is improving even as automakers maintain discipline by limiting incentives, they said.
'Hit a bottom'
"Underlying consumer demand is stable and we may have hit a bottom in terms of minimum level of sales that the industry will continue to carry going into 2012," Jesse Toprak, an analyst for TrueCar.com, said in a phone interview. "Even though the stock market, housing market and consumer confidence all have been down or extremely volatile the last few months, new-car sales stood steady and in fact inched up a couple of notches."
Consumer confidence surged in November by the most in more than 8 years, The Conference Board's monthly index showed yesterday. The percentage of consumers planning to buy a new vehicle within 6 months climbed to 4.1%, the highest since April, the New York-based private research group said.
The pace of U.S. auto sales had dropped below a 12 million rate in May and June after the March 11 earthquake and tsunami in their home country disrupted parts supply and production for Toyota City, Japan-based Toyota and Tokyo-based Honda.
Gaining speed
The auto-sales rate stayed below 12.3 million in July and August. The slow recovery prompted analysts to cut their estimates for next year to 13.5 million light-vehicle sales, the average of 14 estimates compiled by Bloomberg. The average was more than 14.2 million before Japan's tsunami hurt supply.
"We're bottoming," George Magliano, an economist at IHS Automotive, said of his firm's estimate for next year, which was reduced to 13.2 million. "We're looking at the strong month we expect for November and feeling better about where we're going to go with auto sales."
Toyota may say deliveries rose 5% from a year earlier, and Honda sales may climb 2.6%, according to the average estimates of 5 analysts surveyed by Bloomberg. Both automakers have reported year-over-year declines in every month since April.
"Several high-volume launches, such as the Camry for Toyota, should support continued strength in auto sales into 2012," Peter Nesvold, an analyst for Jefferies, wrote in a Nov. 25 research note. Jefferies sees "upward pressure" to its 2012 sales estimate of 12.7 million, which was reduced from 13.6 million in August, he said.
Chrysler leading
Chrysler may lead all major automakers with a 37% surge in sales from a year earlier, the average of 8 analysts' estimates. The automaker is boosting sales even as it reduces deliveries to fleet customers such as rental-car companies, said Alan Baum, principal of Baum & Associates.
"Their retail volume a year ago was dreadful," Baum said in a phone interview.
Ford deliveries may climb 10%, the average of 8 estimates. The automaker's performance is "encouraging" because it precedes Ford's introduction of a new Escape sport-utility vehicle, which may boost sales when it goes on sale in the 1st half of next year, Itay Michaeli, an analyst for Citigroup, wrote in a Nov. 21 report.
"November was a good retail environment for consumers overall," Erich Merkle, Ford's sales analyst, said Tuesday in an interview. Consumers have been "sitting on the sidelines for quite some time. Black Friday provided that reason to get out there."
GM's prediction
GM may say deliveries increased by 7.4%, the average of 8 estimates. Don Johnson, vice president of U.S. sales, forecast at a Nov. 15 investor conference that the industry would get close to a 14 million sales rate, including medium-and heavy-duty truck deliveries. GM is poised to replace Toyota as the world's largest automaker by vehicle sales.
Hyundai Motor Co. and its affiliate Kia Motors Corp. may combine to sell 24% more vehicles than a year earlier, according to the average of 3 estimates. Nissan Motor Co. may say deliveries climbed 12% in November, the average of 5 estimates.
Industrywide car inventory rebounded to 53 days supply at the beginning of November, from 43 days a month earlier, according to LMC Automotive. That's the biggest sequential increase since February, Jeff Schuster, an analyst for LMC, said in an e-mail.
Toyota and Honda have said production cuts that followed floods in Thailand will be less severe than the companies feared. Toyota said Nov. 23 that North American factories will operate on normal schedules this week and next week, including overtime. Honda said Nov. 28 that 6 plants in the U.S. and Canada will resume normal output Dec. 1.
"We are really starting to see pent-up demand dig in," Jim Lentz, president of Toyota's U.S. sales unit, said in a Nov. 17 phone interview from Blue Springs, Miss., where the company opened a plant to build Corolla compact cars. "It's starting to push industry sales regardless of whether the economy is flat or going up."
12-01-11 | 11:01 AM
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Gm
DETROIT – General Motors Co. (NYSE: GM) today reported total sales of 180,402 vehicles in November, up 7 percent compared with November 2010.
Retail deliveries were up 15 percent compared with the same month a year ago and accounted for 77 percent of GM sales. Deliveries to fleets were down 14 percent.
“We are seeing a broad spectrum of customers return to the market,” said Don Johnson, vice president, U.S. Sales Operations. “Truck sales showed a very solid increase, as we expected, but the momentum building behind our most fuel-efficient vehicles was even stronger.”
In November, combined sales of GM small and compact cars, led by the new Chevrolet Sonic and consistently strong-selling Chevrolet Cruze, were up 54 percent compared with a year ago. GM’s total passenger car sales increased 1 percent, crossover sales decreased 9 percent and sales of trucks, which include full-size pickups, vans and SUVs, increased 25 percent.
Highlights for the month include a 34-percent increase in Chevrolet Silverado sales and a 22-percent increase in GMC Sierra sales. Other vehicles posting double-digit sales increases were the Chevrolet Cruze, Camaro, Avalanche, Colorado, Suburban, Tahoe and Express van, the GMC Yukon and Yukon XL, and the Cadillac SRX.
Calendar year to date, all 4 GM brands have increased their sales compared with the same period a year ago, on the strength of double-digit increases in retail sales.
GM ended November with about 620,000 units in dealer stock and expects to end the year with inventory in the high 500,000-unit range, including approximately 200,000 full-size pickup trucks, as previously announced.
General Motors Co. (NYSE:GM, TSX: GMM) and its partners produce vehicles in 30 countries, and the company has leadership positions in the world's largest and fastest-growing automotive markets. GM’s brands include Chevrolet and Cadillac, as well as Baojun, Buick, GMC, Holden, Isuzu, Jiefang, Opel, Vauxhall and Wuling. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety, security and information services, can be found at http://www.gm.com.
Forward-Looking Statements
In this press release and in related comments by our management, our use of the words “expect,” “anticipate,” “possible,” “potential,” “target,” “believe,” “commit,” “intend,” “continue,” “may,” “would,” “could,” “should,” “project,” “projected,” “positioned” or similar expressions is intended to identify forward-looking statements that represent our current judgment about possible future events. We believe these judgments are reasonable, but these statements are not guarantees of any events or financial results, and our actual results may differ materially due to a variety of important factors. Among other items, such factors might include: our ability to realize production efficiencies and to achieve reductions in costs as a result of our restructuring initiatives and labor modifications; our ability to maintain quality control over our vehicles and avoid material vehicle recalls; our ability to maintain adequate liquidity and financing sources and an appropriate level of debt, including as required to fund our planned significant investment in new technology; the ability of our suppliers to timely deliver parts, components and systems; our ability to realize successful vehicle applications of new technology; and our ability to continue to attract new customers, particularly for our new products. GM's most recent annual report on Form 10-K and quarterly reports on Form 10-Q provides information about these and other factors, which we may revise or supplement in future reports to the SEC.
12-01-11 | 11:03 AM
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Ford
Ford Motor Company’s November U.S. retail sales increased 20% versus a year ago. Total sales were 166,865, up 13%.
Ford estimates its retail market share has averaged 15 percent in the last 3 months – its highest retail share in 5 years.
Ford brand retail sales were higher for most products, with double-digit gains posted by Fiesta, Fusion, Escape, Explorer, F-Series, Econoline and Ranger.
“With gasoline prices continuing to track higher than last year, consumers continue to value fuel economy – no matter what size or kind of vehicle best meets their needs,” said Ken Czubay, Ford vice president, U.S. Marketing, Sales and Service. “Most Ford products deliver best-in-class fuel economy and provide customers an opportunity to choose what best works for them – EcoBoost technology or electrified vehicles.”
North American Production
Ford plans to build 675,000 vehicles in the 1st quarter of 2012, up 3% (18,000 vehicles) compared with 1st quarter 2011. Ford plans to build 674,000 vehicles in the 4th quarter of 2011, an increase of 14,000 vehicles from the previous forecast.
“The industry sales rate has exceeded 13 million in each of the last three months,” said Czubay. “This suggests the current momentum is not an aberration. We believe replacement demand will continue to support stronger levels in 2012, and Ford is ready to meet that demand with high-quality, fuel-efficient cars, utilities and trucks.”
12-01-11 | 11:06 AM
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Honda/Acura
American Honda Motor Co., Inc., posted November sales of 83,925 vehicles, a decrease of 10.1%, the company announced today. American Honda year-to-date sales reached 1,042,055, down 5.7% versus last year, based on the daily selling rate*.
Honda Division posted November sales of 74,016, a decrease of 9.9% versus November 2010. The Pilot continued its momentum with sales of 10,487, up 32.6%. The Civic was the top-selling Honda model for November with sales of 17,133, a decrease of 0.7% compared to last year. The CR-V posted sales of 16,426, a decrease of 13.7%. The Accord posted sales of 14,355 a decrease of 17.9%.
"The impact of the Thailand flooding on our North American production levels continued to be felt in November," said John Mendel, American Honda executive vice president of sales. "We're looking forward to closing the year on a strong note as production recovers and the all-new CR-V goes on sale this month."
Acura Division recorded November sales of 9,909, a decrease of 11.2% versus November 2010, and year-to-date sales of 110,170, down 7.1%. The MDX was the top-selling Acura model for the month with November sales of 3,308 down 24.2%. The TSX posted record November sales of 2,691.
*The daily selling rate (DSR) is calculated with 25 days for November 2011 and 24 days for November 2010. Year-to-date DSR is calculated with 280 days for 2011 and 279 days for 2010. All percentages reflect DSR.
Last edited by GS69; 12-01-11 at 11:49 AM.
12-01-11 | 11:11 AM
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Nissan
Nissan North America, Inc. (NNA) today reported record November U.S. sales of 85,182 units versus 71,366 units a year earlier, an increase of 19.4 percent. Nissan Division sales also set a new November record, increasing 21.5 percent for the month to 76,754 units. Sales of Infiniti vehicles increased 3 percent from the prior year, to 8,428 units.
NISSAN HIGHLIGHTS
Nissan vehicles posted record November sales with 76,754 units, an increase of 21.5 percent over the 63,184 units sold in November 2010.
Versa – led by brisk demand for the all-new 2012 Versa Sedan – set a new November record with 9,291 deliveries, an increase of 38.2 percent over the prior year.
The Rogue crossover also delivered a November record with sales of 10,845 units marking a 27.2 percent increase over last year.
The Nissan Altima maintains its place among the industry’s leading passenger cars, with 20,613 units marking an increase of 12.2 percent over the prior year and a new November record.
Nissan’s lineup of trucks, SUVs and crossovers all showed gains over last November, led by the Frontier pickup (up 37.8 percent) and Pathfinder (up 26.3 percent).
Sales of the 100-percent electric Nissan LEAF totaled 672 units in November, with deliveries totaling 8,738 units of the innovative, zero-emission vehicle since its December 2010 U.S. debut.
Nissan Commercial Vehicles continues to build awareness for the 2012 Nissan NV commercial van, resulting in 1,238 deliveries, its best month since its Spring 2011 launch.
INFINITI HIGHLIGHTS
Infiniti sales totaled 8,428 units for November, an increase of 3 percent versus 8,182 a year earlier.
Infiniti QX sales of 1,446 was an increase of 9.0 percent for the month, the best November in the full-size luxury SUV's history.
With sales of 3,623, the Infiniti G Sedan had an increase of 26.9 percent for the month, its best November since 2007.
The updated 2012 Infiniti FX saw an increase of 24.9 percent, the best November for the luxury performance crossover since 2007.
“Strong gains across our lineup extended Nissan’s record-breaking October into our best-ever November,” said Al Castignetti, vice president and general manager, Nissan Sales. “We expect to finish 2011 on a high note with vehicles like Altima, Versa, Sentra and Rogue leading Nissan to a strong close in December and into an even better 2012.”
NOTE: To ensure consistency in global sales reporting, Nissan North America calculates monthly variances on a straight-percentage basis, unadjusted for the number of selling days. November 2011 had 25 selling days, while November 2010 had 24 selling days.
12-01-11 | 11:15 AM
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Chrysler
Chrysler Group LLC today reported U.S. sales of 107,172, a 45 percent increase compared with sales in November 2010 (74,152 units), and the best year-over-year sales gain this year.
Chrysler Group's 45 percent sales increase was driven by retail sales that were up 51 percent. November was the sixth-consecutive month of sales gains of at least 20 percent. For the 10th month this year, Chrysler Group sales have beaten the average industry sales increase.
"With sales up 45 percent, November was another huge month for the Chrysler Group and our highest year-over-year sales gain of 2011," said Reid Bigland, President and CEO – Dodge Brand and Head of U.S. Sales. "In addition to having eight Chrysler Group models recognized as Consumers Digest automotive 'Best Buys' for the 2012 model year, we also have picked up countless other vehicle awards this year which clearly are reflected in our sales success."
The Chrysler 300 full-size and Chrysler 200 mid-size sedans significantly contributed to the group's 45 percent increase in sales. Other models that made an impact include the Dodge Charger sports sedan, Dodge Avenger mid-size sedan, Dodge Durango full-size SUV, Jeep® Compass compact SUV, and the Jeep Grand Cherokee, the most-awarded SUV ever.
The Chrysler, Jeep, Dodge and Ram Truck brands each posted sales increases in November. The Chrysler brand's 92 percent sales increase was the largest percentage gain of all the Chrysler Group brands and was its best November since 2008.
Chrysler Group finished the month with a 78-day supply of inventory (333,218 units). U.S. industry sales figures for November are projected at an estimated 13.8 million SAAR.
November 2011 U.S. Sales Highlights by Brand
Chrysler Brand
The Chrysler brand's 92 percent sales increase in November represented the largest percentage increase of any Chrysler Group brand and its best November sales since 2008. Sales of the brand's new sedans helped drive its 92 percent sales gain. The new 2012 Chrysler 300 full-size sedan, featured in new television and print ads launched Thanksgiving week, posted a solid 215 percent sales increase compared with the same month a year ago. The new ads showcase Detroit and Chrysler's resolve to 'See It Through' the rough times and celebrate a comeback. The 60-second television spot weaves the luxury, craftsmanship and best-in-class capabilities of the Chrysler 300 with the hard-working spirit and toughness of the people of Detroit. It was the best November for Chrysler 300 sales since 2007.
Sales of the new 2012 Chrysler 200 mid-size sedan increased 496 percent in November compared with sales of its predecessor the same month a year ago.
Jeep® Brand
Jeep brand sales were up 50 percent in November, the brand's best November sales performance since 2003 and its 19th-consecutive month of year-over-year sales gains. All Jeep brand models posted sales gains in November, including a 23 percent increase in Jeep Grand Cherokee sales.The new Jeep Compass logged the largest sales increase. Compass, offering unsurpassed 4x4 fuel economy and off-road capability in the compact-SUV segment, posted an imposing 887 percent sales increase in November, its eighth-consecutive monthly sales record this year. The Compass' 887 percent increase was by far the largest year-over-year percentage sales gain of any Chrysler Group model in November.
Jeep Wrangler set another monthly sales record in November; the SUV's sixth-consecutive monthly record this year. Not only were Wrangler sales up 41 percent in November, the most capable and recognized vehicle in the world also received the Residual Value Award in the "Compact Utility" category from ALG, the industry benchmark for residual values and depreciation data. The annual ALG Residual Value Awards recognize vehicles that are predicted to retain the highest percentage of their original price after a conventional three-year period. In addition, Kelley Blue Book's kbb.com named Wrangler Best Resale Value in its class and, for the second consecutive year, one of the Top 10 cars with Best Resale Value.
Dodge Brand
The Dodge brand posted a 43 percent sales increase in November compared with the same month in 2010. The new 2012 Dodge Charger sports sedan and the new 2012 Dodge Avenger mid-size sedan each significantly contributed to the brand's November increase. Sales of both Dodge models more than doubled compared with the same month a year ago. The Charger, the first domestic sport sedan to feature the state-of-the-art eight-speed automatic transmission, was named a 2012 "All-Star" by Automobile Magazine in November. Sales of the Dodge Journey, America's most versatile mid-size crossover, were up 38 percent in November while the Dodge Grand Caravan posted a 3 percent sales gain.
The new 2012 Dodge Durango, named "Car of the Month" for November by NADAguides, continues to garner awards and high praise from experts impressed with its best-in-class capability, style, spaciousness, interior craftsmanship and driving dynamics. The full-size SUV posted incremental sales of 3,947 units in November.
The special-edition 2012 Dodge Challenger SRT8 392 Yellow Jacket and 2012 Dodge Charger SRT8 Super Bee models made their public debut at the 2011 Los Angeles Auto Show in November.
Ram Truck Brand
Ram pickup truck sales increased 8 percent in November, its best November since 2007. The Ram Truck brand in November began offering a new Ram 1500 Crew Cab 4x4 Special Service package for law enforcement and other emergency agencies through Chrysler Group Fleet sales. The newest Ram model features a selection of severe-duty-adapted equipment available on the 2012 Ram 1500 and several unique features, including 100,000-mile sparkplugs and a larger oil cooler to protect the engine during the unforgiving stop-and-go operations associated with first responders.
One of the Ram Truck brand's greatest innovations for the pickup truck – RamBox®, received the Automotive Innovation Award in November in the Body Exterior Category from the Society of Plastics Engineers for creative and ingenuous use of plastics in the automotive industry. RamBox is a segment-exclusive cargo management system that provides secure storage options for tradesmen, craftsmen, sportsmen, athletes and outdoorsmen.
November 2011 U.S. Sales Highlights
Chrysler brand sales (18,577 units) increased 92 percent in November versus the same month a year ago (9,664 units)
Sales of the Chrysler 200 (8,065 units) were up 496 percent compared with sales of the model's previous generation (1,354 units) in November a year ago
Chrysler 300 sales (4,066 units) increased 215 percent versus the same month in 2010 (1,291 units)
Jeep brand sales (36,246 units) increased 50 percent compared with the same month last year (24,202 units)
Jeep Wrangler sales (9,225 units) were up 41 percent versus November 2010 (6,552 units)
Jeep Liberty sales (5,201 units) increased 53 percent compared with November sales a year ago (3,398 units)
Sales of the Jeep Compass (4,262 units) were up 887 percent versus the same month in 2010 (432 units)
Jeep Patriot sales (4,013 units) were up 46 percent compared with November 2010 (2,754 units)
Sales of the Jeep Grand Cherokee (13,545 units) increased 23 percent versus November a year ago (10,984 units)
Dodge brand sales (30,317 units) were up 43 percent in November compared with the same month last year (21,246 units)
Dodge Avenger sales (5,643 units) increased 102 percent versus November 2010 (2,800 units)
Dodge Charger sales (5,099 units) were up 160 percent compared with the same month last year (1,963 units)
Dodge Challenger sales (2,996 units) increased 20 percent versus November 2010 (2,497 units)
Dodge Journey sales (3,711 units) were up 38 percent compared with the same month a year ago (2,697 units)
Ram Truck brand sales (20,414 units) increased 7 percent versus November 2010 (19,040 units)
Chrysler Group truck sales (78,478 units) improved 29 percent compared with November 2010 (61,040 units)
Chrysler Group car sales (28,694 units) were up 119 percent versus November last year (13,112 units)
Sales of the Chrysler 200 (8,065 units) were up 496 percent compared with sales of the model's previous generation (1,354 units) in November a year ago
Chrysler 300 sales (4,066 units) increased 215 percent versus the same month in 2010 (1,291 units)
Jeep brand sales (36,246 units) increased 50 percent compared with the same month last year (24,202 units)
Jeep Wrangler sales (9,225 units) were up 41 percent versus November 2010 (6,552 units)
Jeep Liberty sales (5,201 units) increased 53 percent compared with November sales a year ago (3,398 units)
Sales of the Jeep Compass (4,262 units) were up 887 percent versus the same month in 2010 (432 units)
Jeep Patriot sales (4,013 units) were up 46 percent compared with November 2010 (2,754 units)
Sales of the Jeep Grand Cherokee (13,545 units) increased 23 percent versus November a year ago (10,984 units)
Dodge brand sales (30,317 units) were up 43 percent in November compared with the same month last year (21,246 units)
Dodge Avenger sales (5,643 units) increased 102 percent versus November 2010 (2,800 units)
Dodge Charger sales (5,099 units) were up 160 percent compared with the same month last year (1,963 units)
Dodge Challenger sales (2,996 units) increased 20 percent versus November 2010 (2,497 units)
Dodge Journey sales (3,711 units) were up 38 percent compared with the same month a year ago (2,697 units)
Ram Truck brand sales (20,414 units) increased 7 percent versus November 2010 (19,040 units)
Chrysler Group truck sales (78,478 units) improved 29 percent compared with November 2010 (61,040 units)
Chrysler Group car sales (28,694 units) were up 119 percent versus November last year (13,112 units)
12-01-11 | 11:17 AM
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Vw
(VWoA) today reported 28,412 units sold in November 2011, a 40.7 percent increase over prior year sales. Year-to-date sales are up 25.3 percent.
"November has been a tremendous month for Volkswagen," said Jonathan Browning, President and CEO, Volkswagen Group of America, Inc. "With the 2012 Passat named Motor Trend''s Car of the Year, anticipated improvements in J.D. Power's Sales Satisfaction Index and once again double-digit sales growth, the proof points of German Engineering and our commitment to the U.S. market are all starting to come together."
In its first 2 full months of sales, the Chattanooga-built Passat outsold 2010's volume and acheived 6,018 units for the month of November. Jetta sales, including Jetta SportWagen, totaled 12,891 units, a 15.6 percent increase over last year. The 2012 Beetle sold 1,656 units.
GTI sales increased 33.3 percent while Golf sales rose 37.5 percent versus last year. The Eos and Tiguan SUV posted 53.0 percent and 11.4 percent sales increases, respectively. Volkswagen's high-mileage, clean diesel TDI models accounted for 19.8 percent of all November sales, up 36.0 percent year-over-year.
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12-01-11 | 02:11 PM
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