November Car Sales Improved

New-car sales figures released today seem to indicate a growing increase. According to the nytimes.com article, In November, Car Sales Show Signs of Stability, General Motors, Ford Motor, Toyota and Honda said their sales were about the same last month as they were a year ago. The only major carmaker to report a large drop was Chrysler, whose sales fell 25 percent. Hyundai, in contrast, reported a 46 percent increase. Estimates from G.M. and Chrysler were selling at a rate of about 11 million in November, slightly higher that October's rate of about 10.5 million. This is much higher than the low rate of about 9 million seen in the early part of 2009.

In response to rising demand, G.M. said it would build 75 percent more vehicles in the first quarter than it did a year earlier, and Ford said it would raise first-quarter production by 58 percent. Both companies had been drastically cutting production since the middle of last year.

While sales figures for the months of July and August were significantly higher, mostly due to the Cash for Clunkers program, November sales were the third highest for 2009.

This article posted by AFP, noted that Chrysler sales in the U.S were down 25 percent compared with a year earlier to 63,560. Sales were down modestly compared with October's figure of 65,803, and the company said this was a positive sign.

Ford meanwhile said increased sales of passenger cars and newer "crossover" vehicles offset weak demand for trucks and sport utility vehicles.

Ford said it sold 123,167 new vehicles in the month, marginally lower than the 123,222 in November 2008. The figure was down from 136,920 in October.

“We can see now that a modest economic recovery is under way,” Emily Kolinski Morris, Ford’s senior United States economist, said on a conference call Tuesday. “It won’t begin to feel like a recovery until the labor market has begun to improve materially.”

Hyundai was the industry leader last month, as it has been through most of 2009 as consumers look for lower-priced but reliable alternatives to some more popular vehicles. The Environmental Protection Agency released a report Tuesday citing Hyundai topping Honda as the most fuel-efficient vehicle lineup.