Reuters: US November auto sales stay flat
- Source: Global Times
- [15:27 December 01 2009]
- Comments
US auto sales in November are expected to reach 10.5 million units, according to a median forecast of 36 analysts surveyed by Reuters.
Auto sales in October also totaled 10.5 million units.
"As expected, the recovery has been slow, but it is progressing," said Jeff Schuster, forecasting director at industry tracking firm JD Power and Associates.
Encouraged by the recovery of the US economy, General Motors Co.'s US sales analyst Mike DiGiovanni said vehicle sales could surpass 11 million units in November.
Though he cited rising unemployment and a decline in single family housing market started in October, DiGiovanni said he felt confident the economy was on its way back.
Industry forecasting firm Edmunds.com expects GM to post a 1 percent fall in sales, Ford to post flat sales, Chrysler to post a 35 percent drop, a 4 percent fall for Toyota, 9 percent decline for Honda, and 1 percent drop for Nissan. Only Hyundai is likely to post a 26 percent rise in November.
Many analysts and auto industry executives have forecast a modest rebound in 2010 to between 11 million and 12 million units, but some say next year won't be any better than this year.
Agencies and Shi Jierui contributed to this story
