This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Ford Rises as Auto Industry Posts Nov. Sales Gains

DETROIT ( TheStreet) -- Ford (F - Get Report) said November sales rose 6%, while GM (GM - Get Report) reported a gain of 3.4% as the auto industry remained a bright spot for the economy.

Shares in Ford were rising in early trading Monday, up 14 cents to $11.59 shortly after the open. GM shares were flat. In New York, Ford CEO Alan Mulally was scheduled to appear at Lincoln Center to discuss Lincoln marketing as Ford seeks to reinvent the 90-year-old luxury brand. Meanwhile, Chrysler reported its best November sales since 2007, with sales up 14%, while Toyota (TM - Get Report) said its sales rose 17% to 161, 695.

On the Ford sales call, analyst Erich Merkle said Hurricane Sandy created industry demand for 20,000 to 30,000 vehicles in November, including sales delayed from October as well as replacement vehicles.. "We expect the replacement demand to lead in December and it will take us through the first half," he said.

Ford said November sales totaled 177,673, with retail sales up 12%. Small-car sales rose 76% to 26,848, as Focus sales rose 56% to 18,312. Overall, car sales rose 15%, trucks rose 4% and utilities rose 2%. Sales of the F-Series pickup, the best-selling U.S. vehicle, rose 18% to 56,299.

However, Fusion sales declined 24% to 15,125, as Ford introduced a new model. Lincoln sales fell 9.1% to 5,732. Escape sales fell 3.9% to 20,970, but Edge sales rose 4.7% to 10,142.

GM reported its highest November sales in the United States since 2007, with deliveries of 186,505 vehicles. Retail sales were flat and fleet sales rose 16%. Passenger-car sales rose 19%, crossover sales rose 9% and truck sales fell 11%. GM said it declined to match "unexpectedly high competitive incentive activity" in the pickup truck sector.

Buick sales rose 22% to 13,289 while Cadillac sales rose 30% to 14,517. Chevrolet sales were flat at 128,867.

Analysts were looking for a low double-digit sales increase for November. forecast a 13% gain while predicted an 11% gain and a seasonally adjusted annualized sales rate of 15 million, up from 14.3 million in October. Ford's Merkle said industry November sales were up about 10%. NoMerSo far, frenzy over the so-called fiscal cliff doesn't seem to have impacted auto sales, while Hurricane Sandy has stimulated demand for replacement vehicles.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
F $13.35 0.30%
GM $30.61 0.06%
TM $100.97 0.35%
AAPL $93.12 -0.53%
FB $118.28 0.19%


Chart of I:DJI
DOW 17,680.98 +29.72 0.17%
S&P 500 2,054.66 +3.54 0.17%
NASDAQ 4,731.8890 +6.25 0.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs