November Auto Sales: GM, Nissan, VW Rise as FCA Tumbles
By David Phillips. Published on December 01, two thousand sixteen .
Most Popular
Ford, Honda, Nissan, Toyota and General Motors posted U.S. sales increases in November as a rise in incentive spending helped put the industry back on a winning track after three straight monthly declines.
A 10% build up at GM and a Four.3% rise at Toyota Motor Corp. marked their strongest advances this year. Nissan Motor Co. climbed 7.5%, while Ford Motor Co. ended a four-month skid. The Volkswagen brand soared 24%. Fiat Chrysler was the exception among the very first companies to report, tumbling 14% as fleet deliveries shrank.
The VW brand’s 24% increase ended a streak of twelve consecutive monthly declines in the wake of the automaker’s diesel-emissions scandal. VW’s Audi, meantime, extended its winning run to eighty five months with a Two.5% build up.
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Continued request for light trucks amid low gasoline prices helped boost automakers’ results, as did two extra selling days compared with November of 2015. Incentive spending last month, including Thanksgiving holiday deals, was up 13% vs. a year-earlier but down from October, according to TrueCar data.
When other automakers release results later today, U.S. light-vehicle sales in November are forecast to rise about Three.8% from a year earlier, based on a survey of analysts by Bloomberg.
What’s more, November is shaping up to leave the industry in a better position to top last year’s 17.47 million tally. Sales through October were 0.Trio % behind their year-earlier rhythm after three straight monthly declines.
If the industry manages to eke out an annual build up, two thousand sixteen would mark the very first time in a century that U.S. sales topped year-earlier levels for seven straight years. Sales rose every year in a nine-year spread through 1917.
GM’s 10% increase reflected rises of 8.1% at Chevrolet, 14% at GMC, 16% at Buick and 14% at Cadillac. GM said sales to retail customers were up 7.9% to 197,609 in November while rental shipments hopped 27%.
Toyota’s corporate increase reflected a Five.3% build up at the Toyota division. Deliveries slipped 1% at Lexus. Toyota eventually managed to outsell Ford Motor Co. after coming close twice this summer. Toyota’s margin was 1,204 units to rank No. Two in the industry, behind GM.
Ford posted a Five.1% rise in November volume. Sales rose Four.5% at the Ford division and 19% at Lincoln. Ford’s retail sales were up 10% while fleet shipments dropped 9%.
Volume dropped at FCA on sharply lower fleet shipments, a 12% decline at Jeep and a 47% decrease at the Chrysler brand. It was the third straight monthly decline at Jeep. Deliveries rose 12% at Ram but slipped 21% at Dodge and 15% at Fiat. FCA said overall retail request dropped 2% and fleet volume was off 42% last month.
Sales advanced 7.5% at Nissan Motor last month, with deliveries rising 8% at the Nissan division and Three.6% at Infiniti. Honda Motor Co. ended a three-month losing streak with a 6.5% increase. Honda division volume climbed 7.9%, offsetting a Five.1% decline at Acura.
The seasonally adjusted, annualized sales rate is projected to remain strong but drop to 17.7 million vehicles, according to a survey of analysts by Bloomberg. That would be down slightly from this year’s highest rate — October’s 17.98 million — and the Eighteen.07 million rhythm in November 2015, the second-strongest month of last year. GM today estimated the November SAAR at 17.9 million units.
The early launch of Black Friday sales events helped offset declines in fleet sales in November, said Eric Lyman, TrueCar’s chief industry analyst. “The retail sales environment remains strong for fresh car sales,” Mr. Lyman said. “Incentives are also down slightly [from October] as automakers begin to address supply side imbalances with planned reductions in vehicle production.”
Stable economic and job growth and the latest rise in U.S. equity prices have also encouraged consumers to make big-ticket purchases, analysts say. Incentive spending by automakers averaged an estimated $Trio,475 per vehicle in November, TrueCar estimates.
Mike Jackson, CEO of AutoNation Inc., the largest U.S. new-vehicle dealership group, said there is some ease among dealers and automakers now that the presidential election, and the uncertainty that the campaign cast over consumers, is over.
“I still think we’re in a plateau,” Mr. Jackson said this week. “There is a point of diminishing comebacks when whatever you give at the front end in incentives comes off residual values at the back end. We’re right at that tipping point.”
Jessica Caldwell, an analyst for Edmunds.com, said luxury vehicles and light-truck request in December will determine whether the industry hits a fresh milestone. “November sales have the industry well-positioned to set a fresh annual sales record this year, but a fresh record is far from ensured,” said Ms. Caldwell. “Expect to see a flood of ads for holiday season sales events in the coming days and weeks, especially for luxury brands, trucks and SUVs. If we see any year-over-year lifts in these segments in December, then it’s a good bet that the industry will top last year’s record-high sales.”
David Phillips is a reporter for Automotive News. Automotive News reporter Nick Bunkley contributed to this report.
November Auto Sales: GM, Nissan, VW Rise as FCA Tumbles, CMO Strategy
November Auto Sales: GM, Nissan, VW Rise as FCA Tumbles
By David Phillips. Published on December 01, two thousand sixteen .
Most Popular
Ford, Honda, Nissan, Toyota and General Motors posted U.S. sales increases in November as a rise in incentive spending helped put the industry back on a winning track after three straight monthly declines.
A 10% build up at GM and a Four.3% rise at Toyota Motor Corp. marked their strongest advances this year. Nissan Motor Co. climbed 7.5%, while Ford Motor Co. ended a four-month skid. The Volkswagen brand soared 24%. Fiat Chrysler was the exception among the very first companies to report, tumbling 14% as fleet deliveries shrank.
The VW brand’s 24% increase ended a streak of twelve consecutive monthly declines in the wake of the automaker’s diesel-emissions scandal. VW’s Audi, meantime, extended its winning run to eighty five months with a Two.5% build up.
Related Stories
Automakers Rev Up Black Friday TV Spend to $161 Million
Lexus’ Crimson Bows, a Holiday Tradition, Comeback for Year Legitimate
Continued request for light trucks amid low gasoline prices helped boost automakers’ results, as did two extra selling days compared with November of 2015. Incentive spending last month, including Thanksgiving holiday deals, was up 13% vs. a year-earlier but down from October, according to TrueCar data.
When other automakers release results later today, U.S. light-vehicle sales in November are forecast to rise about Trio.8% from a year earlier, based on a survey of analysts by Bloomberg.
What’s more, November is shaping up to leave the industry in a better position to top last year’s 17.47 million tally. Sales through October were 0.Three % behind their year-earlier rhythm after three straight monthly declines.
If the industry manages to eke out an annual build up, two thousand sixteen would mark the very first time in a century that U.S. sales topped year-earlier levels for seven straight years. Sales rose every year in a nine-year open up through 1917.
GM’s 10% increase reflected rises of 8.1% at Chevrolet, 14% at GMC, 16% at Buick and 14% at Cadillac. GM said sales to retail customers were up 7.9% to 197,609 in November while rental shipments hopped 27%.
Toyota’s corporate increase reflected a Five.3% build up at the Toyota division. Deliveries slipped 1% at Lexus. Toyota eventually managed to outsell Ford Motor Co. after coming close twice this summer. Toyota’s margin was 1,204 units to rank No. Two in the industry, behind GM.
Ford posted a Five.1% rise in November volume. Sales rose Four.5% at the Ford division and 19% at Lincoln. Ford’s retail sales were up 10% while fleet shipments dropped 9%.
Volume dropped at FCA on sharply lower fleet shipments, a 12% decline at Jeep and a 47% decrease at the Chrysler brand. It was the third straight monthly decline at Jeep. Deliveries rose 12% at Ram but slipped 21% at Dodge and 15% at Fiat. FCA said overall retail request dropped 2% and fleet volume was off 42% last month.
Sales advanced 7.5% at Nissan Motor last month, with deliveries rising 8% at the Nissan division and Trio.6% at Infiniti. Honda Motor Co. ended a three-month losing streak with a 6.5% increase. Honda division volume climbed 7.9%, offsetting a Five.1% decline at Acura.
The seasonally adjusted, annualized sales rate is projected to remain strong but drop to 17.7 million vehicles, according to a survey of analysts by Bloomberg. That would be down slightly from this year’s highest rate — October’s 17.98 million — and the Legitimate.07 million tempo in November 2015, the second-strongest month of last year. GM today estimated the November SAAR at 17.9 million units.
The early launch of Black Friday sales events helped offset declines in fleet sales in November, said Eric Lyman, TrueCar’s chief industry analyst. “The retail sales environment remains strong for fresh car sales,” Mr. Lyman said. “Incentives are also down slightly [from October] as automakers begin to address supply side imbalances with planned reductions in vehicle production.”
Constant economic and job growth and the latest rise in U.S. equity prices have also encouraged consumers to make big-ticket purchases, analysts say. Incentive spending by automakers averaged an estimated $Three,475 per vehicle in November, TrueCar estimates.
Mike Jackson, CEO of AutoNation Inc., the largest U.S. new-vehicle dealership group, said there is some ease among dealers and automakers now that the presidential election, and the uncertainty that the campaign cast over consumers, is over.
“I still think we’re in a plateau,” Mr. Jackson said this week. “There is a point of diminishing comes back when whatever you give at the front end in incentives comes off residual values at the back end. We’re right at that tipping point.”
Jessica Caldwell, an analyst for Edmunds.com, said luxury vehicles and light-truck request in December will determine whether the industry hits a fresh milestone. “November sales have the industry well-positioned to set a fresh annual sales record this year, but a fresh record is far from ensured,” said Ms. Caldwell. “Expect to see a flood of ads for holiday season sales events in the coming days and weeks, especially for luxury brands, trucks and SUVs. If we see any year-over-year lifts in these segments in December, then it’s a good bet that the industry will top last year’s record-high sales.”
David Phillips is a reporter for Automotive News. Automotive News reporter Nick Bunkley contributed to this report.