US car sales heat up in November, boosted by discounts

CHICAGO: Deep discounts and extra selling days boosted US car sales in November among many brands, as Black Friday shopping helped reverse three months of year- over- year declines, automakers reported.

But the good news was offset by steep declines for a few carmakers, leading to a slight downtick in sales compared to October.

The industry sold 1.38 million units in November, just below the 1.39 million sold the prior month, according to Autodata.

The seasonally adjusted annual rate fell 2 per cent to 17.87 million units from a year ago, the industry research firm said.

GM, the biggest US carmaker, reported a sales surge of 10.2 per cent compared to the year-ago period.

Its Chevrolet and GMC brands saw most of the business, with the higher end Buick and Cadillac brands getting sizeable boosts.

Ford sales rose 5 per cent, driven by gains in its retail sales of trucks and SUVs. Sales to rental agencies, commercial operations and government were down 9 per cent.

Toyota reported a 4.3 per cent gain, crediting two additional selling days this November compared to last.

The company said SUV sales were a highlight, and was optimistic about a strong December.

GM also expressed optimism, saying it was ahead of schedule in selling off its 2016 model year inventory and expected robust December sales.

“All economic indicators show significantly improved optimism about the US economy including consumer and business sentiment, which continue to drive a very healthy US auto industry,” GM chief economist Mustafa Mohatarem said in a statement. — AFP