Skip to comments.Hurricane Sandy Boosts Detroit As November Auto Sales Hit 5 Year Highs
Posted on 12/03/2012 11:22:58 AM PST by ExxonPatrolUs
Despite uncertainty over the fiscal cliff and a stagnant economy, the auto industry continues to exhibit strength. Detroits Big Three, along with Toyota Motors, leveraged the effects of Hurricane Sandy in November, seeing sales continuing to grow as people replaced vehicles or completed purchases that had been delayed because of the storm. While Sandy effect is expected to last a few more months, the companies expressed concern over the fiscal cliff debate.
Chrysler and Toyota were the big winners this time, seeing their November sales jump 14% and 17.2% respectively. Chrysler, which sold 122,565 units in the month, said it had its best November since 2007 and has now seen 32 months of consecutive sales growth. Toyota sold 161,695 units.
Ford had a good November too, with sales growing 6% to 177,673 units. Fords senior U.S. economist, Jenny Lin, noted that Hurricane Sandy added between 20,000 and 30,000 sales in November, and its effects are expected to last into January 2013.
Slightly disappointing was General Motors performance. The company saw sales grow 3.4% to 186,505 units, which was slightly below expectations, despite having its best November in 5 years.
(Excerpt) Read more at forbes.com ...
There is just nothing to write about in Forbes so they concocted a story.
So a disaster every other month and things will be fine. Just fine.
I can't wait to hear the new home sales... ;-)
More broken window fallacy thinking.
“Let’s have a disaster every month! That’ll get the economy rolling!”
How do we start a flood ?
GM can keep the car I already paid for it since they same unwilling to give me to me.
Same with Fiat/Chrysler.
My 5 year old Son has also paid for one, as have his kids that have not been born yet.
Chrysler and GM are dead to me. And I own 3 pre-bail out cars made by those idiots.
Not sure what I’ll buy next. maybe I’ll just keep fixing what I have until they rust to the point they are unsafe to drive.
If one publicly funded high speed train is good, 5 of them are fantastic!
Buy more SUVS...at least Algore would tell us that.
Hmmm, so most of these sales took place on the Sandy affected east coast? Sales must really suck in flyover country.
how many of those cars were made in Detroit?
Isn’t that just going to depress sales for the next few years? The increase in sales was people replacing their cars ahead of schedule, so the normal replacement sales that would have taken place for the next few years won’t happen.
Actually sales are decent everywhere.
The average vehicle on the road in the US is 11 yrs old, a record number, that means half are older.
The head guy at Mazda called the US fleet a “rolling junkyard”.
The Dems still think that Hurricane Andrew got us out of the ‘92 recession because “it forced insurance companies to stop HOARDING all that cash and put it into circulation”.
Yup, clearly we need more catastrophic events to destoy all those old cars.
Then Detroit (uh... plus Toyota) would really thrive.
It’d do great things for the housing industry, too.
Not to mention all those hospitals and undertakers.