Stocks: (DCX)(TM)(F)(GM)
Things were expected to be raw for Chrysler, but the company beat the devil. November sales of its cars and trucks rose 4.7% to 186,835, Even lagging division Chrysler sales were up 2.9% as the company launched new models. Mercedes US sales rose 20.8%,
Ford, on the other hand, did horribly. US sales dropped 9.6% to 182,259. Sales of it trucks fell 12.9% with the company flagship F-series trucks falling 16.1% to 52,727. Ford did bring down inventory from by 122,000 to 631,000. Ford shareholders were not pleased, sending the shares down almost 2% to $8.
Toyota sales jumped sharply rising 15.9% to 196,695. Toyota sales rose 18% to 169,976. Lexus division sales were up 4.2%.
GM’s sales rose 6% to 297,556. Light truck sales rose 16.6% to 183,573. Car sales were down 7.9% to 109,985. The rise in truck sales was somthing of a surprise given their gas mileage compared to small cars. GM’s shares were up very slightly on the news trading at $29.27.
All in all, another win for Toyota.
Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.
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