November Auto Sales Improve

U.S. auto sales improved year-over-year in November for the first time this year without a government-backed stimulus plan involved, a signal that buyers are returning to showrooms as the economy stabilizes, Bloomberg reported.

The seasonally adjusted sales rate was 10.93 million vehicles, up from 10.41 million a year earlier, according to Autodata Corp. An August sales-rate increase was driven by the government’s “cash for clunkers” program.

Industry sales totaled 746,928 in November, up from 746,789 a year earlier, according to Autodata, Bloomberg said.

The rate bested analysts’ average estimate of 10.5 million units, with General Motors Co., Toyota Motor Corp., Ford Motor Co. and Chrysler Group LLC all posting results better-than-estimated results by Bloomberg analysts.

The figures buttressed automakers’ belief that a slow recovery is under way after deliveries were hit by the recession and bankruptcies at GM and Chrysler, Bloomberg reported.

Toyota, the world’s largest automaker, reported a 2.6% increase, while Ford’s deliveries were flat. GM’s sales slipped 2.2% and Chrysler’s sales also fell.

Ford said it will boost its first-quarter 2010 North American production 58% from a year ago, to 550,000 vehicles, Bloomberg said.