General Motors (GM) has revealed that it is expecting to achieve its third-highest monthly auto sales of the year so far in November.

The Detroit giant predicts that sales will increase by between ten per cent and 15 per cent on a year-on-year basis, with an annualised sales rate of 10.8 million vehicles.

This would better the estimates of 10.3 million and 10.2 million, which have been offered by industry players Edmunds.com and JD Power and Associates respectively.

"The recovery has been slow, but it is progressing," said Jeff Schuster, Executive Director of Global Forecasting for JD Power.

"Transaction prices are at their highest levels in years, indicating a healthier close for the fourth quarter."

Edmunds.com predicted that November sales in the US will fall by 4.9 per cent annually to 710,000 vehicles, while JD Power is envisaging a 7.9 per cent slump to 687,800 units.

The former also revealed that it expects the 'Big Three' of GM, Chrysler and Ford to post declines of 1.3 per cent, 35 per cent and 0.3 per cent respectively for the month.

In addition, it can see Toyota posting a 4.4 per cent decrease, Honda incurring a 9.1 per cent drop and the other major Japanese automaker, Nissan, recording a 0.7 per cent fall.

"November is living up to its reputation for being one of the worst months of the year for car sales," said Jessica Caldwell, an Edmunds.com Analyst.

"But automakers have already launched holiday-season incentives in order to pick up the pace."

GM has endured a troubled year and was forced to file for government support to prevent a slide into bankruptcy.

Source:

GM Says Auto Sales Rate May Be 10.8 Million in Sign of Recovery (19/11/09)

© Adfero Ltd