U.S. auto sales came in ahead of forecast for November as consumers reacted positively to holiday promotions. Ford (F +2.2%) sales were down 7% and Toyota sales dropped 1% to beat estimates, while Fiat Chrysler rode a huge month for Ram to a 17% monthly sales gain.
Not part of the reporting bunch, General Motors (GM +1.4%) sales were estimated to be up 1% during the month, while Tesla (TSLA +2.3%) is estimated by Edmunds to have sold 18,644 vehicles for the period.
SUVs and trucks extended their dominance over cars in a consumer trend that was alsp highlighted recently by GM execs in explaining the automaker's plant closings. And despite the overall sales drop for November, there were some signs of optimism for investors to digest.
"Relative to the macro-economic outlook, Ford was upbeat on its monthly sales call, suggesting relative consumer resiliency in the face of rising interest rates," notes JPMorgan Ryan Brinkman.
Previously: Ford U.S. sales fall less than anticipated (Dec. 3)
Previously: Huge Ram month paces Fiat in U.S. (Dec. 3)
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