Stock:
Symbol Lookup
Register | Login
...
History
...
...

Pre Market | Dow Jones | Gold | Newsletters | Learn


U.S. Auto Sales Rise in November (F, GM)

Tuesday, December 4, 2012 4:15 AM
Auto-sales climbed 15 percent to 1.14 million vehicles from a year-ago period  in November, a highest sales-growth-rate in November since last five years, as the need to replace old vehicles, cheap auto financing and strong recovery in consumer sentiment following devastating hurricane Sandy which badly impacted sales towards the month-end in October, boosted the demand. According to auto-industry executives, sales are expected to remain strong as consumers will look to replace cars that are on average 11 years old, thanks to cheap and easily available auto-financing. Buoyed by strong results, Ford Motor Co. (NYSE: F) said that it will increase its production levels for the first quarter in North America by 11% YOY. Ford reported on Monday that its cars and truck sales jumped 6.4% from the year earlier period to 177,092 vehicles. Nonetheless, America’s largest automaker, General Motors Co. (NYSE: GM) said that it plans to keep at least it one of the plants idle as company tries to reduce the number of piled up inventories. Although GM's overall U.S. sales in November soared 3.4% over a year earlier period to 186,505 vehicles, it fell short of analysts’ expectation. Addressing investors and analysts in conference call, a GM executive said that sales failed to pick up as GM did not offer discounts unlike many other automakers who offered huge discounts on 2012 models. "December will be a whole new ballgame, December is usually strong month for Silverado, construction is rebounding and we expect to see a resolution in Washington [ the issue of fiscal cliff],” said Kurt McNeil, vice president of GM's U.S. sales operations. Meanwhile, Chrysler Group LLC said its sales leaped by 14% to 122,565 in November compared with the same period of last year. The company, whose major shareholder is Italy's Fiat SpA, said sales of its compact Fiat 500 saw more than twofold increase  while demand for its big Ram pickups soared by 23%.  
PRINT

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2015 the year you get RICH!

Latest Headlines

Toyota to move to merit-based pay for factory workers: NikkeiToyota to move to merit-based pay for factory workers: Nikkei
(Reuters) - Toyota Motor Corp <7203.T> will change the way it pays factory workers, focusing on their performance rather than their seniority, the Nikkei reported on Monday. Toyota`s new arran...
Morgan Stanley Just Chose Visa Over MasterCard: Here's WhyMorgan Stanley Just Chose Visa Over MasterCard: Here's Why
In a recent report, Morgan Stanley analysts took an in-depth look at credit card giants Visa Inc (NYSE: V ) and MasterCard Inc (NYSE: MA ) ahead of their earnings releases later this week. H...
Siemens names new healthcare bosses, power head goesSiemens names new healthcare bosses, power head goes
MUNICH, Germany (Reuters) - German industrial group Siemens <SIEGn.DE> announced a major reshuffle of its management board on Monday, appointing a new team to run its healthcare business and say...
Microsoft profit falls on sluggish Windows, currency pressureMicrosoft profit falls on sluggish Windows, currency pressure
SEATTLE (Reuters) - Microsoft Corp on Monday reported a fall in its quarterly profit that was in line with Wall Street forecasts, as sluggish personal computer sales dampened demand for Windows soft...
Microsoft profit falls on sluggish Windows demand, tax chargeMicrosoft profit falls on sluggish Windows demand, tax charge
SEATTLE (Reuters) - Microsoft Corp said on Monday fiscal second-quarter profit fell, as sluggish personal computer sales dampened demand for Windows software and the company had a one-time tax expense...

Loading Headlines...
 

Stock Market

Track the stock market today with the latest news and information on all things investing! Watch your stocks perform throughout the day and watch the breaking stock market news.

Feedback | disclaimer | privacy policy

Stock Market News

The Stock Market is ever changing. Keep up on your stock market news.

Stock Market Newsletters

Read up on your favorite stock market newsletters.


Learn the Stock Market

Sharper your stock trading skills with our stock market education section.

Algorithm Based
Trade Signals
arrow
small cap swing trades SmallCaps stocks under $10
Index Signals Index Signals SPY, QQQ, DIA, IWM
options trading Mega Stocks options + stock trade signals
AppleStock FREE AAPL Signals realtime daytrade signals