U.S. auto sales down; Cruze deliveries fall

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U.S. auto sales down; Cruze deliveries fall

"From a discipline standpoint, even though it's moved up, transaction prices moved up along with it."Industrywide, November sales ran at an annualised rate of almost 17.5 million units, outpacing analyst estimates, preliminary data from researcher Autodata show".

Domestic auto sales took a hit last month with the Big Three each reporting drops in new vehicle deliveries despite Black Friday deals and strong consumer confidence.

"The need to clear out record inventories of prior model-year vehicles continues to keep incentive spending aggressive in November", said Thomas King, an analyst at J.D. Power. The carmaker's year-to-date sales, as of November 30, were down 1.1 percent, from 2.72 million last year to 2.69 million this year.

US sales of new cars and trucks rose 1 percent to almost 1.4 million, according to Autodata Corp., a market analysis firm.

GM said in a release that sales to commercial and government fleets rose 7 percent, driven by a 30 percent increase in full-size pickup sales and a 35 percent increase for the Chevrolet Tahoe Police Pursuit Vehicle.

The Audi Q5 compact utility vehicle enjoyed a double digit sales increase, helping the automaker to its 83rd consecutive monthly US sales increase. Total sales dropped four percent to 154,919 vehicles, a bit below the Edmunds projection.

Honda reported a total US sales increase of 8.3%, to 133,156 units, for November compared to the same month in 2016.

After a record year of sales in 2016 and seven consecutive annual increases, Kelley Blue Book's forecast for 2017 calls for sales in the range of 17 and 17.2 million units, which represents a 1.5 to 3 percent decrease from last year.

The Toyota brand was down 2.4%, and the luxury Lexus brand was down 6.7%, according to the Japanese automaker.

Despite that, Ford posted a 5.2 percent increase in sales of its Ford brand passenger cars, reflecting a 44.9 percent jump in sales of the Focus.

Honda Motor and Ford Motor reported bigger USA sales gains than expected for last month as big rebates and cut-rate financing offers lured buyers into showrooms.

As rivals General Motors and Ford have done over the past year, FCA is trying to reduce sales of less-profitable vehicles to daily rental companies. Sales of the CR-V SUV jumped 25 percent. The two auto makers said planned reductions in sales to fleet buyers, including rental vehicle companies, hurt sales and retail demand remains steady.

"Kelley Blue Book continues to see much of the consumer demand geared toward small SUVs, which saw prices rise by 3%, in addition to strong sales growth". GM's best-seller, the Chevrolet Silverado pickup, was up 3 percent.

The P/E of Fiat Chrysler Automobiles N.V.is now valued at 7.74 allowing its investors to analyze the company's stock valuation and its shares relative to the income of the company that it makes.

Sales fell 2% at Jeep, 15% at Dodge, 5% at Ram and 28% at Fiat. "In addition, Ford brand SUVs continued their outstanding performance with sales up 13 percent for their best November since 2000", said Mark LaNeve, Ford vice president of marketing, sales and service.

Volkswagen was down 1.6%. The pace of sales also fell sharply for electric automaker Tesla.

— Nissan Motor Co. didn't report its sales due to a computer problem.

LMC Automotive was forecasting that sales will be down 0.2% from November 2016, based on data from the first half of the month.

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