Black Friday deals boost US auto sales

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Truck sales rose 4% and SUVs 13.3%.

Some analysts initially predicted that November sales would plunge as post-hurricane sales slowed in Texas and Florida.

Honda Motor Co. and Ford Motor Co. reported bigger USA sales gains than expected for last month as Black Friday promotions and year-end discounting lured buyers into showrooms. Jefferies Group boosted their price target on Fiat Chrysler Automobiles from $14.00 to $19.00 and gave the company a "buy" rating in a report on Wednesday, August 23rd. Auto buying site KBB.com said automotive credit applications rose 42 percent on Black Friday compared to other Fridays in November.

The automakers have had more leeway to offer big discounts and cheap loans because buyers have been snapping up more sport utility vehicles and trucks, which usually sell for more than the passenger cars that consumers are snubbing.

"Prices are being driven higher by the shifting sales mix away from cars, which now stands at just 34% and is trending downward", noted Tim Fleming, Kelly Blue Book analyst.

The Japanese automaker said it expected US sales would be up 14% based on preliminary figures, which would be better than analysts' average estimate.

Additionally, U.S. consumer confidence last month was at its highest level since November 2000, according to the Conference Board. But at GM, sales fell to 245,387 vehicles, down 2.9 percent from a year ago and far short of Edmunds' forecast for a 1.8 percent gain.

- Toyota sales fell 3 percent even though the revamped Camry sedan and the RAV4 small SUV posted record November numbers.

- Hyundai Motor Co. sales fell 9 percent to 55,435 vehicles.

At FCA, retail sales rose two percent, but as with GM, its overall results were hit by a decline in sales to rental companies. Genesis luxury sales rose slightly.

The Big Three have released their November 2017 sales reports Friday, with the Ford Motor Company being the only automaker to have higher sales compared to a year ago. Increased truck and SUV sales were offset by steep declines in auto sales.

Results: 191,617; -3%. Toyota division sales fell 2.4%, and Lexus sales shrank 6.7%.

Honda beat analyst projections thanks to sales surges of 57% for the Pilot and 25% for the CR-V. Luxury Acura sales were up 10 percent.

Ford Motor Co. also had a strong month in November as it reported a sales increase of 6.2%. GM's best-seller, the Chevrolet Silverado pickup, was up 3 percent.

It was the best November retail sales for the Jeep Compass and the Chrysler Pacifica.

While looking at the Stock's Performance, Fiat Chrysler Automobiles N.V. now shows a Weekly Performance of -2.84%, where Monthly Performance is -1.44%, Quarterly performance is 13.02%, 6 Months performance is 55.53% and yearly performance percentage is 124.16%.

"November and December over the last few years have become a very big merchandising window for the industry", said Mark LaNeve, Ford's USA sales chief, told analysts and reporters on Dec. 1.

Nissan and Infiniti delayed reporting sales until December 4, due to problems in their IT department, the company said.

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