Edmunds.com Projects US New-Auto Sales Will Rise 14% In Nov

Date : 11/29/2011 @ 2:01PM
Source : Dow Jones News
Stock : Honda Motor Company, Ltd. (HMC)
Quote : 27.63  -0.02 (-0.07%) @ 3:59PM

Edmunds.com Projects US New-Auto Sales Will Rise 14% In Nov

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   DOW JONES NEWSWIRES 

Edmunds.com projected new-auto sales will rise 14% in November from a year earlier, or 9% adjusted for an extra sales day this year, with the strongest gains expected by the Detroit Big Three.

November's sales are expected to result in a seasonally adjusted annualized rate of 13.6 million vehicles. While the latest month's auto sales are expected to be down 2.8% from October, Edmunds analysts noted this year's Thanksgiving weekend again saw higher-than-usual auto sales as consumers look for bargains.

"There were positive forces in the auto market in November, as more inventory was available and auto makers began year-end holiday sales events. Deal-oriented messages work more effectively than ever before," said Edmunds Senior Analyst Jessica Caldwell. "While sales are strong now, we are still witnessing the deferred demand from the summer months, so we cannot expect this sales level to be considered the 'new normal.'"

U.S. auto sales surged in October to their fastest pace of the year, defying the sluggish economy, with a revived Chrysler Group LLC leading the way.

For November, Chrysler a unit of Fiat SpA (F.MI), is expected to report a year-to-year increase of 43%, making it again the strongest performer for the month. Larger rivals General Motors Co. (GM) and Ford Motor Co. (F) are expected to register increases of 9.9% and 12%, respectively.

Japanese auto maker Toyota Motor Corp. (TM, 7203.TO) is expected to see a 3.5% increase from the prior year, while Honda Motor Co. (HMC, 7267.TO) sales are expected to rise 2.5%. Nissan is projected to post an 8.2% gain.

November had 25 sales days, while the year-earlier period had 24 sales days.

 
 -By Nathalie Tadena, Dow Jones Newswires; 212-416-3287; 
 nathalie.tadena@dowjones.com; 

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