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The GM missing expectations for November sales but fort crushed its sales up over 6% compared with last year.
And up Chrysler had its best November in five years.
With a fourteen point 4% increase wasn't good enough to beat the 16% analysts were looking for.
Now super storm -- having an impact as well customers in the northeast headed out dealerships with their insurance checks in hand giving them -- so called wealth effect.
Geary gasoline Fox News that comes automotive editor joins me now with -- impact on car sales and overall industry chat is flat out carry great to see you through.
So let's talk about candy we saw cars literally floating out to see so you automatically.
Well this is gonna be a boon for the auto industry what's your take.
Italy helped you know there between 20250000.
Cars destroyed and that analysts figure about a quarter of those apart be replaced by brand new cars.
So not quite that many were sold last month but it was.
You know did play into this increase we saw to a certain extent used car sales were up quite as much though Jakarta come estimating about 4%.
But given the time of year I was reading that.
The storm and the fact that the length of time on average people are holding onto their cars is like -- -- -- years is actually giving some support to overall car prices can you comment on that.
Transaction prices were up last month as well although so we're incentives so kind of balance itself battle of the more for people are spending more on cars -- a lot of technology into -- these days spending he gave you spent 30000 dollars and -- -- It's been getting back to the storm's impact in terms of the -- cars people are behind we sought gas lines and gas shortages was.
Huge part of this crisis and to more people go to the hybrids.
Hard to -- -- heading to do that there's been a growth there -- had increase of 75% of the small cars from this time last year that's tremendous growth.
And hybrid sales as well gonna -- -- crashing in November right with the hybrid part of it Ford had a good month.
Chrysler though you know they missed some analysts have been due to a 14% presidency great growth since they got back on their feet but also with Ford your pick -- truck sales we did very well.
As the prices ram truck division.
It shows that the economy's doing better there's a lot of those are being sold to businesses.
And that's sort of -- it is always a good indicator of the economy growing and customer -- -- -- assume they are for the better these -- -- more fuel efficient than they used to be you know still prepared to highlight they're not doing too well but.
If you economies up 1020% a lot of those vehicles.
-- are people buying the big cars and a little cars and hybrids what's going on with sort of like the average -- where's the demand there crossovers are still very strong midsize -- of course the largest segment in the US right now -- -- -- pick -- trucks and end -- but a lot of growth in the small cars that -- Ford has been very successful let's have a little bit about GM they came in below expectations -- have -- little criticism -- -- -- -- -- have been driven -- government purchases -- considering -- -- -- taxpayers.
Still a significant share of GM that's a little questionable.
GM's premium brands actually saw the most growth Buick Chrysler Buick Cadillac and GM CI Chevrolet was kind of flat.
Last year this time they had some pretty heavy heavy incentives that they didn't this time around to sales were down a little bit in their pickup truck sales were down.
Because they have all new vehicles coming next year so the sort of certain to clear out the current model in anticipation of that so -- coming uttered on the pick up truck sales but they're premium brands are doing well.
BMW up 39%.
So a lot of luxury and premium brands still -- very strong it's OK so.
Overall bottom line where's the auto industry in relation to its historic highs CAD -- -- we're looking at about fifteen million dollar annualized rate this year another best river so seventeen this is ahead of expectations this year so it's definitely.
Really good and it's growing now whether or not the fiscal cliff happens.
We'll see things -- for right now consumers don't seem to be concerned it's trying to avoid that topic I don't talk benefit the Clinton together I'm gonna -- -- be considered a fiscal cliff that -- but you're right that he didn't -- he -- --
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