Chrysler, Ford and Toyota all posted virtually flat sales results for November compared with a year ago, and General Motors saw an 11% decline, in large part because it walked away from more fleet
business. As a result, GM and Ford will slash North American production for the first three months of '08--GM by 11%; Ford by 7%.
"Consumer confidence is at a two-year low, and we
have some uncertainty in housing and mortgage markets, which perhaps is delaying some consumers from their car purchases," says Bob Carter, group vice president and gm for Toyota and Scion. Also,
rising gas prices seem to weigh on sales of trucks and SUVs.
Relatively fuel-efficient models provided bright spots for automakers. Ford's Edge is on track to exceed its target of selling
120,000 vehicles this year. GM officials were happy to announce that sales of the redesigned Malibu jumped 40%. Truck-heavy Chrysler saw overall car sales jump 43% last month, boosting car sales by 7%
year-to-date. The Toyota Camry posted a November record, and the Prius hybrid had a sales increase of 109%.
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