Fiat Chrysler Automobiles NV (NYSE:FCAU) posted on Monday a 17% increase in US vehicle sales in November, buoyed by demand for Ram pickup trucks and Jeep sport-utility vehicles.
The company was the exception to the rule, with Ford Motor Co (NYSE:F), Nissan Motor Co Ltd (OTCMKTS:NSANY), Toyota Motor Corp (NYSE:TM) and Honda Motor Co Ltd (NYSE:HMC) all posting declines. General Motors Co (NYSE:GM) no longer breaks out monthly sales figures.
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Fiat Chrysler reported that its US vehicle sales increased to 181,310 in November, up 17% from a year earlier. US retail sales rose 6% to 136,704, the highest level since 2001. Ram led the company’s US brands with a 44% gain while Jeep sales advanced 12%.
“Our dealers saw steady customer traffic throughout the month and especially during the Thanksgiving weekend," Reid Bigland, US head of sales, said in a statement.
Nissan reported a 19% drop in vehicle sales; Honda, a 9.5% decline; and Ford, a 6.9% decrease. Toyota’s vehicle sales edged lower by 0.6%.
All of the major automakers in the US rallied Monday as the meeting between US President Donald Trump and China’s President Xi Jinping eased trade turmoil.
Contact Dennis Fitzgerald at dennis@proactiveinvestors.com