US November auto sales up as promotions spur consumers – CNBC
Full-size pickup truck sales, combining the Chevrolet Silverado and the GM Sierra, fell 6.2 percent, while the Ford Motor Co F-Series pickups gained 10 percent at 65,192.
Fiat Chrysler Automobiles said its Ram pickup sales were up 2 percent.
Toyota Motor‘s U.S. November sales also increased 12.4 percent, beating analyst estimates of 4.9 percent.
Ford Motor ended a sales promotion offering employee pricing, but analysts said the deal confused consumers who wanted more traditional promotions. Ford sales rose 0.4 percent for the month.
Ford says it’s adding 2,000 jobs and investing $1.3 billion at the Kentucky Truck Plant in Louisville to build the new aluminum-body Super Duty truck.
Company officials were joining Kentucky Gov. Steve Beshear and Louisville Mayor Greg Fischer for an announcement at the plant Tuesday.
The company said in a news release ahead of the announcement that it will add a new body shop, facility upgrades and retooling to build the 2017 models.
Vehicle upgrades are trending in the auto industry, one expert told CNBC’s “Power Lunch.”
“There are three mega trends in the automotive world,” said Emmanuel Rosner, a senior auto analyst at CLSA Americas. “The trend is towards vehicles that are more safe, green, and connected.”