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Chrysler, Toyota, Nissan Sales Surge, Best in 2 Years

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toyotaToyota Motor Corp. (NYSE:TM) announcing its first monthly increase in sales since April this year, joined Nissan Motor Co. (PINK:NSANY) and Chrysler Group LLC in succeeding in exceeding analysts’ sales forecasts, topping the best United States light vehicle sales speed since two years.

Toyota in a statement said that sales rose 6.7 percent in November accounting for 137,960 cars and light trucks. Chrysler surged 45 percent to 107,172 vehicles, followed by Nissan whose sales increased by 19 percent to 85,182 vehicles. Ford Motor Co. and General Motor Co., saw a boost in the demand with the Silverado pickup trucks, and the F-Series, also announced gains.

Four among the six largest auto manufacturer’s sales in the U.S. beat expectations, increasing manufacturing sales to a 13.6 million seasonally amended annualized rate, according to Autodata Corp. The sales pace exceeded analysts’ average expectations of 13.4 million and is the best sales month since the auto sales dropped in August 2009.


Toyota’s Prius hybrid sales increased 49 percent to 15,208, while deliveries of its sedan Camry surged by 13 percent to 23,440 deliveries. Toyota topped analyst forecast for a 5 percent increase in sales in November.

Chrysler, the auto manufacturer organized by Fiat SpA, exceeded analysts’ expectations of 37 percent increase in sales as its Jeep brand deliveries increased 50 percent. Nissans sales topped analysts’ average estimates of 12 percent increase.

A 13 percent increase in sales at Ford, exceeding analysts’ estimates of a 10 percent rise, while GM’s gain of 6.9 percent fell short of analysts’ average expectations of 7.4 percent rise. GM’s Silverado pickup trucks increased sales by 34 percent and Ford’s F-Series pickup deliveries rose 24 percent.

Ford plans to make 675,000 cars and trucks in the first fiscal quarter next year, a 3 percent rise from last year, as per a statement from the automaker. Ford’s SUV (sport utility vehicle) sales rose 29 percent, while on the other hand car delivers dropped 8.8 percent, with the Focus demand declining for five consecutive months.

Lenders are also providing more new car loans to financially unstable customers, said Experian Automotive. For new car loans, the average credit figure dropped to 763 for the period of September to October from 769, compared to last year’s same period.  Scott Waldron, President of Experian Automotive said, banks are showing their willingness to be more flexible in their lending procedures.

The U.S. economy is also showing signs of relief. In November, consumer confidence rose to its highest level since July, said the conference board earlier this week.

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edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.


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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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