Vehicle buying site Edmunds.com predicted sales of new cars and trucks will hit 1.33 million, eclipsing the previous November record set in 2001. This November had two fewer selling days than November 2014.
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The Auburn Hills, MI-based company sold 175,974 vehicles in the US last month, driven by record sales of the Jeep brand.
Fiat Chrysler announced a 3 percent sales increase, starting a round of sales reports that are expected to make last month the best November ever for auto and truck sales.
USA sales of Fiat declined 3% to 3,029, despite strong sales from the new 500X model. FCA’s sales gains (and those of its rivals) may appear modest, but despite the small-looking gain, this was the group’s best November U.S. sales result since 2000. The Jeep brand’s 20% increase was the largest sales gain of any FCA US brand during the period.
Through October, deliveries across the industry rose 5.8 percent to 14.5 million, spurred by rising incentives, record leasing rates, pent-up demand, and favorable financing and credit availability. Dodge sales dropped 8% to 38,938 vehicles, while Chrysler sales decreased 12% to 23,953 cars. Chevrolet sales rose 4.8 per cent, powered by growth in pickups and SUVs. “F-Series and commercial vans also were very strong, with an 18 percent gain for the month and our best November sales performance for Ford Trucks in eight years”.
Ford said lowered incentive spending prompted a $3,800 boost in average transaction prices compared with a year ago.
Chrysler projected a seasonally adjusted annual rate (SAAR) of sales in the United States from all manufacturers at 18.4 million units for 2015, down from last month’s projection of 18.5 million.
If the forecasts hold, it would mark the first time that the SAAR has topped 18 million units three consecutive months. The consensus SAAR estimate calls for unit sales of 18.1 million this year.
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Honda’s sales fell 5 percent, hurt by a big decline in CR-V SUV sales. Automakers spent about 6 percent more on incentives in November than they did a year earlier, according to the vehicle-pricing research firm.
