This story contains updated results.
New vehicle sales stalled last month even as demand for trucks remained very healthy during November.
Both General Motors and Fiat Chrysler Automobiles N.V. reported a sales drop during November despite health sales of trucks and utility vehicles.
Ford Motor Co. also had a strong month in November as it reported a sales increase of 6.2%.
“Strong customer demand for Motor Trend’s new Truck of the Year drove F-Series sales past the 70,000 mark last month, a November number achieved just three other times in history. In addition, Ford brand SUVs continued their outstanding performance with sales up 13 percent for their best November since 2000,” said Mark LaNeve, Ford vice president of marketing, sales and service.
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GM, meanwhile, said overall sales remained healthy in past month and the future also looks robust, GM officials said.
“More vehicles are sold in December than any other month and we are very well positioned because we have momentum in so many segments, but especially in crossovers,” said Kurt McNeil, U.S. vice president of Sales Operations.
“When we close the books on 2017, GM will show very healthy inventory levels, significantly lower daily rental sales for the third year in row, and the best year in our history for crossover deliveries by far,” he said.
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“U.S. economic growth has stepped up and we expect the momentum will carry over to 2018,” added GM Chief Economist Mustafa Mohatarem. “Employment continues to grow at a solid pace, wage growth will accelerate and consumer confidence just hit a 17-year high, so industry sales should remain strong.”
Other November results included:
- Toyota down 2.4% and Lexus off 6.7%
- Audi rose 12.8% due to Q5, Q7 and A5 Sportback demand
- Volkswagen sales dropped 1.6%
- Honda was up 8.2% while Acura rose 9.5%, setting new records for November
- BMW was up 7.1% while Mini fell 10.4%
- Mercedes-Benz rose slightly by 1.6%
- Porsche and Subaru were up marginally by 0.8%
Nissan and Infiniti delayed reporting sales until Dec. 4, due to problems in their IT department, the company said.
Sales continue to remain solid, when compared with record results from the past two years and, even better news for automakers, prices are on the rise.
“Prices are being driven higher by the shifting sales mix away from cars, which now stands at just 34% and is trending downward,” noted Tim Fleming, Kelly Blue Book analyst.
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“Kelley Blue Book continues to see much of the consumer demand geared toward small SUVs, which saw prices rise by 3%, in addition to strong sales growth. This segment features many recent redesigns, and shows no signs of weakness despite the overall down market for new vehicles.”