And so far, things are looking good.
Chrysler kicked things off, reporting a 20.1% jump in sales, beating expectations for 15.9% growth.
GM sales climbed 6.5%, which was much stronger than the 2.6% increase forecast by analysts.
Ford sales fell 1.8%, but it wasn’t as bad as the 2.0% drop expected.
Analysts estimate the pace of vehicle sales increased to an annualized rate of 16.55 million units in November, up from 16.35 million in October.
So far, every major automaker that’s reported their November results have beaten expectations.
“Autos haven’t typically been a focus of Black Friday, but last year the industry made a push to get in on the holiday sales frenzy to good results, and there’s an effort underway again this year to get more people into dealerships after Thanksgiving,” Morgan Stanley’s Ted Wieseman noted. “So we’re looking for some more upside to potentially reach 17 million for only the second time in the past eight years.”
Here’s a running tally
- Chrysler: +20.1% (+15.9% Estimated)
- GM: +6.5% (+2.6% Est.)
- Ford: -1.8 (-2.0% Est.)
- Nissan: -3.1% (-5.0% Est.)
- Toyota: +3% (+2.1% Est.)
- Honda: +4.6% (+4.3% Est.)
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