NEW YORK (TheStreet) --Ford's (F) auto sales in November jumped 5.2% from the same month a year ago, well above estimates of a 0.8% increase. The Ford F-Series completed its best November since 2001 due to strong F-150 and Super Duty retail demand. SUV sales rose 20%, and the Lincoln division increased 19%.
"This is a remarkable number for Ford," TheStreet's Jim Cramer said on CNBC's "Squawk on the Street" Thursday morning. "A lot of people felt that November would be a weaker month because some of the retail sales numbers, but obviously, they don't carry over to this."
Cramer noted the strong sales number reported with the company's F-150, despite uncertainties from the Alcoa (AA) spinoff Arconic (ARNC) , which houses Alcoa's businesses supplying automotive markets.
Arconic and Ford signed an agreement this year making Ford the first automaker to utilize Arconic's advanced automotive aluminum commercially.
"A lot of people had been concerned that the F-150 had been peaking, this is obviously a very strong number," Cramer said.
However, a Wall Street Journal article casts a shadow over the results, saying that subprime auto loans have risen to their highest levels since 2010 in the third quarter.
General Motors (GM) reported better-than-expected November auto sales on Thursday, too. The Detroit-based automaker reported a November sales increase of 10.2%, beating projections of 8.4%.
"It's been one of the best performers in that group," Cramer noted. "I think this stock can absolutely go on a run here. That's a great number."
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Ford shares are up over 6% Thursday while GM's are up over 5%.