November Auto Sales Hit Two-Year High

Includes: F, GM, HMC, TM
by: Bespoke Investment Group

It's hard to believe that the economy is in a fragile state after looking at today's US auto sales totals for the month of November. On a seasonally adjusted annualized rate, sales rose to 13.59 mln, which is the highest total since the 'cash for clunkers' program in the Summer of 2009. Outside of that one month in August 2009, you have to go back to June 2008 to find a higher monthly reading. Even the luxury sector saw strong growth. Sales of BMWs rose 15%, while Mercedes sales rose 55%!