General Motors, Ford Sales Climb in November
YOUNGSTOWN, Ohio – For two of the Big Three automakers, November proved to be a boon to sales, reversing the recent trend of declining year-over-year sales.
General Motors’ total sales gained 10.2%, totaling 252,644. Retail sales – vehicles sold to noncommercial buyers – totaled 197,609, a 7.9% increase. All four GM brands reported an increase in sales. Chevrolet held its spot as the top-selling brand for the company with 169,675, an increase of 8.1% from the same month a year ago. GMC sales jumped 14.1% to 49,113, Buick sales were up 16.1% to 18,530, and Cadillac sales were up 14.5% to 15,326.
Chevrolet’s top seller was the Silverado with 45,280 sold in November, 279 more than a year ago. The Malibu ranked second with 18,577 sold, a nearly 72% gain, and the Lordstown-built Cruze was the third-best seller with 16,414 sold, a 2.1% increase.
GMC sales were led by the Sierra pickup with 18,900 delivered. Cadillac was topped by the XT5 with 5,364, while Buick was led by the Encore, 7,162.
At Ford Motor Co., sales for its two brands were up a combined 5.2% with 197,574 vehicles sold last month – coming out far ahead of Business Insider’s projection of a 0.5% gain. For Ford, sales climbed 4.6% to 188,145. Leading sales for the automaker was the F-series pickup truck line with 72,089 delivered to customers, a 10.6% gain from November 2015.
Sales for the Lincoln brand gained 19.1%, reaching 9,429 sold last month, led by the MKZ, of which 2,541 were sold.
For Fiat Chrysler, November’s sales dropped 14% from a year ago, coming in at 160,827. Of the company’s four American brands, only one – the Ram truck line – posted an increase in sales. That brand reported a 12% sales gain with 34,075 trucks sold in November. Jeep saw a 12% decline as 67,285 vehicles were sold. Chrysler’s sales dropped 47% to 14,518 and sales of Dodges fell 21% to 34,075.
The Grand Cherokee led Jeep sales with 17,230 delivered, while Chrysler’s sales were topped by the Pacifica minivan – introduced earlier this year – of which 8,753 were sold. Dodge’s bestseller was the Charger with 9,138 leaving showrooms.
The increased sales, according to industry research firm J.D. Power & Associates, is due in part to two extra selling days in November – 25 this year, compared to 23 in 2015 – and Thanksgiving weekend sales. In a report J.D. Power released in conjunction with LMC Automotive, the firms projected about 25% of all cars sold last month to be sold over the long holiday weekend.
Annual sales are projected by J.D. Power to fall to 17.9 million in the United States from last year’s record 18 million.
“It is important to note that in absolute terms vehicle sales remain close to record levels while transaction prices are at record highs,” said Deirdre Borrego, J.D. Power vice president, in the report. “However, these results are being driven in part by elevated incentive levels, which represent a meaningful risk to the long-term health of the auto industry.”
Copyright 2023 The Business Journal, Youngstown, Ohio.