Black Friday deals boosted United States auto sales in November

Ford's 6.7 percent sales increase compared with November 2016 was driven by solid jumps in sport utility vehicles and trucks - including the best showing for the market-leading F-Series truck since 2000 - as well as higher sales of sedans. The automakers have had more leeway to offer big discounts and cheap loans because buyers have been snapping up more sport utility vehicles and trucks, which usually sell for more than the passenger cars that consumers are snubbing."November and December over the last few years have become a very big merchandising window for the industry", Mark LaNeve, Ford's United States sales chief, told analysts and reporters on a conference call Friday.

GM fell 2.9 percent on a tough month for the GMC brand amid declining fleet sales, with the Canyon pickup and Yukon each down about 26 percent.

— Ford Motor Co. sales jumped 7 percent to 210,771 on strong demand for trucks and SUVs.

At FCA, only Chrysler of its four major brands posted an increase (14%), aided by a 51% gain in sales of the Pacifica minivan. But Black Friday promotions that began in early November helped lure buyers to dealerships. "But this year retailers are pushing the Black Friday bargains throughout the entire month of November, and it's putting everyone in a buying mood".

The Big Three have released their November 2017 sales reports Friday, with the Ford Motor Company being the only automaker to have higher sales compared to past year.

He was also bullish on the industry, saying that "through November, the auto industry remains on track to have its third consecutive year of new vehicle sales topping 17 million, in-line with our expectations".

November sales were buoyed by strong US consumer confidence, which was at its highest level since November 2000, according to the Conference Board.

Its retail sales were up 1.3 percent, with Lincoln being the only underperforming brand.

Sales fell 2% at Jeep, 15% at Dodge, 5% at Ram and 28% at Fiat.

The Toyota brand was down 2.4%, and the luxury Lexus brand was down 6.7%, according to the Japanese automaker. "The boost in sales over the last three months is a reflection of targeted incentive programs working to move confident consumers who are ready to spend."Honda beat analyst projections thanks to SUV sales surging: by 57 per cent for the Pilot and 25 per cent for the CR-V". Vetr cut Fiat Chrysler Automobiles NV from a "hold" rating to a "sell" rating and set a $10.63 price target for the company.in a report on Monday, February 6th.

"U.S. economic growth has stepped up and we expect the momentum will carry over to 2018", said Mustafa Mohatarem, GM chief economist. Genesis luxury sales rose slightly.

The company saw significant sales increases for its all-new Impreza and Crosstrek, even as Subaru's formerly best-selling Outback has declined.

"Prices are being driven higher by the shifting sales mix away from cars, which now stands at just 34%", said Tim Fleming, analyst for Kelley Blue Book.

LMC and its affiliate, J.D. Power, estimated that the average incentive cost rose to $4,065 in November, or an average of 10.8% of a vehicle's manufacturer's suggested retail price.

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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