Wednesday, December 1, 2010

Hyundai, 3 U.S. Brands Post Sales Gains

Hyundai led a string of automakers that posted higher sales in November, seeing a 45 percent gain from the same month last year. Nissan sales rose 27 percent, followed by Honda at 21 and Ford with 20 percent. Chrysler posted a 17 percent increase, while General Motors reported sales 11 percent higher than November of last year.
Toyota sales dropped 3 percent, and the company said it came as a result of a 60 percent cut in sales to fleet buyers such as rental car companies. Toyota said sales to individuals rose slightly but they didn't increase as much as the industry average.
Toyota has battled safety problems, recalling more than 10 million vehicles worldwide mostly for problems with sticky gas pedals or floor mats that can trap the accelerator pedal.
GM reported increased showroom visits near the end of the month, an encouraging sign after its initial public stock offering on Nov. 18. The U.S. government, which spent $49.5 billion bailing GM out of its financial troubles last year, lowered its stake in the company from 61 percent to about 33 percent by selling stock in the IPO. GM has said that government ownership has hurt its image with consumers, dropping sales.
GM has pared itself to four brands — Chevrolet, Buick, GMC and Cadillac — in order to be more focused on delivering quality vehicles. 
Ford's numbers were boosted by a 34 percent bump in truck sales. The year-ago result includes sales figures for Volvo, which Ford sold this year. 
Chrysler posted its eighth-straight month of year-over-year sales increases, driven largely by the Jeep and Ram brands. The newest version of the Jeep Grand Cherokee continues to sell well, more than tripling from November of last year.

No comments: