Sign in Subscribe
Transportation equipment industry

US Auto Sales Slow Down in November

Strategic Insights

— 1 min read

The American auto market experienced a slowdown in November, with US light vehicle sales falling to the slowest pace in 18 months. Land Rover and Jaguar, two import brands owned by Ford, reported a record November for US car sales, while their parent company, Ford, saw a sales slump of 7.2%. This decline was attributed to a weakening pound against the dollar, which boosted the performance of the import brands. However, six import brands, including BMW, Toyota, Honda, and Audi, reported record sales for November. The industry forecasts a potential drop in US auto sales to 16 to 16.5 million next year from a record high of 17.5 to 17.7 million in 2000.

Key Takeaways:

  • US light vehicle sales fell in November to the slowest pace in 18 months, forcing DaimlerChrysler and Ford to cut North American production and lay off workers.
  • Land Rover and Jaguar, owned by Ford, reported a record November for US car sales, boosted by exchange rates.
  • Ford's sales, including Jaguar, Volvo, and Land Rover, tumbled 7.2% to 300,665 cars and light trucks.
  • Excluding its import brands, Ford sales dropped 8.2%.
  • DaimlerChrysler's US car and light truck sales fell 5.5% in November.
  • Industry forecasts suggest US auto sales could drop to 16 to 16.5 million next year from a record high of 17.5 to 17.7 million in 2000.
  • 2001 could be the third highest year on record for US auto sales, according to analysts and automakers.

Statistics:

  • US light vehicle sales fell 3.4% to 1.236 million vehicles in November.
  • Ford's sales dropped 7.2% in November, including a 8.2% drop excluding its import brands.
  • DaimlerChrysler's US car and light truck sales fell 5.5% in November.
  • Total US auto sales in November fell to a seasonally adjusted annual rate of 16.58 million units, the lowest since April last year.
  • Industry forecasts suggest US auto sales could drop to 16 to 16.5 million next year from a record high of 17.5 to 17.7 million expected for 2000.

Sources:

  • "Ford says US sales tumble as slowdown bites" by Michael Mackenzie, Financial Times, November 2001 (no specific date mentioned)
  • "DaimlerChrysler gets tough on costs and sales" by Julian Richer-Ross, Financial Times, November 2001 (no specific date mentioned)
  • "US auto sales fall 3.4% in November" by AP, USA Today, November 2001 (no specific date mentioned)

Read more