GM Inside News Forum banner
1 - 1 of 1 Posts

4,225 Posts
Discussion Starter · #1 ·
General Motors Co., Toyota Motor Corp., Honda Motor Co. and Fiat Chrysler Automobiles NV said U.S. auto sales rose more than analysts estimated last month as Black Friday specials attracted flocks of consumers. GM said it was the industry’s best November in 11 years.

Fiat Chrysler sales jumped 20 percent to 170,839 for a 56th straight monthly increase amid gains in deliveries of Jeep sport-utility vehicles, Ram pickups and the Chrysler 200 sedan. The average estimate was for a 16 percent jump. Ford Motor Co. and Nissan Motor Co. sales declined less than estimated.

“By any measure, households are reaping significant disposable income gains each week at current gas prices,” Emily Kolinski Morris, Ford’s chief economist, told analysts and reporters on a conference call today. “With U.S. gasoline consumption of over 360 million gallons a day, that represents a total savings of about $180 million per day now versus September.”

Sales of pickups and SUVs have benefited from that cheaper fuel. The price for a gallon of gasoline in the U.S. fell to $2.77 on Dec. 1, according to AAA, the motoring club. That’s the lowest since October 2010. Automakers have also offered deals to get a piece of consumers’ holiday spending. Black Friday, once associated with big-box retailers and shopping malls, marked an important day on the automotive sales calendar.

1 - 1 of 1 Posts