Auto Sales to Reach 3-Year High - Analyst Blog
December 30 2011 - 8:22AM
Zacks
According to an industry research report by TrueCar.com, light
vehicle sales in the U.S. (including cars, trucks and sports
utility vehicles/SUVs) during 2011 is likely to reach its
three-year high at nearly 12.8 million vehicles, compared with 13.2
million vehicles in 2008, driven by continued recovery in the
automotive industry. The figure is also higher than 11.6 million
vehicles sold last year.
Last month, light vehicle sales rose impressively by 10.6% to
seasonally adjusted annual rate (SAAR) of 13.6 million units from
12.28 million in November 2010, while total deliveries went up
13.9% from the year-ago level despite uncertainties in the market.
November was the third straight month when annualized vehicle sales
topped the 13 million mark.
The rise in sales was driven by the consumer’s pent-up demand,
which was strong enough to boost the demand for trucks, vans and
SUVs, as well as luxury lineups like Mercedes and BMW.
The SAAR of 13.6 million units is also the highest sales rate
since August 2009 when the U.S. government launched the “Cash for
Clunkers” trade-in incentive program. It is a significant
improvement from 12.6 million units for the first 10 months of the
year.
Chrysler, Daimler (DDAIF), Ford
Motor (F), Hyundai, Nissan Motor (NSANY)
and Volkswagen (VLKAY) were among the automakers
posting double-digit gain in sales in November. Among the Japanese
automakers, Toyota Motor (TM) saw its first sales
gain since April while Honda Motor’s (HMC) sales
were disappointing due to severe flooding in Thailand.
According to TrueCar, General Motors (GM) will
continue to be the industry leader in December with an 18.9% market
share followed by Ford with 16.5% and Toyota with 14.1%.
DAIMLER AG (DDAIF): Free Stock Analysis Report
FORD MOTOR CO (F): Free Stock Analysis Report
GENERAL MOTORS (GM): Free Stock Analysis Report
HONDA MOTOR (HMC): Free Stock Analysis Report
NISSAN ADR (NSANY): Free Stock Analysis Report
TOYOTA MOTOR CP (TM): Free Stock Analysis Report
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