12/22/2011 - November huge month for car sales
Consumers were eager to buy cars in November, as a new report indicates it was a robust month for car sales.
According to IHS Global Insight, light-vehicle sales jumped 14% in November year-over-year, making it the most prosperous month for automakers in 2011. It was also one of the best Novembers in recent history, as nearly 994,800 units were sold.
Ken Czubay, head of U.S. marketing for Ford Motor Company, said car sales have been fluid for the past several months.
"The industry sales rate has exceeded 13 million in each of the last three months," said Czubay. "This suggests the current momentum is not an aberration. We believe replacement demand will continue to support stronger levels in 2012."
While Ford posted solid gains, fellow American automaker Chrysler recorded its biggest jump in sales, up 45% year-over-year. Chrysler attributed the sales surge to offering more models that have been redesigned.
Other brands that saw significant sales included General Motors, Hyundai, Kia and Volkswagen.