Auto Numbers Looking Optimistic

by: Wall Street Strategies

By David Urani

Today brought auto sales numbers from various automakers for November, and overall it's continuing to look like sales can get near or even pass the 16 million SAAR (seasonally adjusted annual rate) mark for the year (Edmunds has projected 15.7 million). The big three in particular are showing good strength (which is perhaps ironic given that Detroit has just been given the green light to go into bankruptcy). Here's a roundup of some of the automakers' numbers reported so far:

Chrysler Group (Pending:CGC) - Sales +16% to 142,275 units, with the Chrysler, Dodge and Jeep brands all increasing. It also gives its own yearly forecast for the industry of 16.3 million units, above its previous estimate of 15.7 million. Edmunds had forecasted +10%.

Ford (NYSE:F) - Sales +7% to 190,499 units, with retail sales +9%, hitting the best rate in 9 years on strength in the Fusion and F-series trucks. Edmunds had forecasted +3%.

GM (NYSE:GM) - Sales +14% to 186,505 units, including retail sales +19%. They project annual industry sales of more than 16 million. Edmunds had forecasted +8%.

Volkswagen (OTCPK:VLKAF) - Sales -16.3% to 30,727 units, but +9.2% month to month.

Toyota (OTCPK:TOYOF) - Unadjusted sales (with 1 extra selling day) +10.1% to 178,044 units. Edmunds had forecasted +8%.

Huyundai/Kia (OTC:KIMTF) - Sales +5% to 56,005 units, helped by a 43% gain from the Sante Fe.

Subaru (OTCPK:FUJHY) - Sales +29.8% to 36,621 units.

Nissan (OTCPK:NSANF) - Sales +10.7% to 106,528 units.

While the numbers today do so far look like they can take us back above the 16 million SAAR mark (ran at 15.5 million SAAR in October) we'll still be below the running rates between 2002 and 2006 when sales regularly averaged between 17-18 million SAAR.