Dec 2, 2014 3:20 PM by News Staff
DETROIT (AP) - American shoppers passed on the malls and headed to the car dealerships over Thanksgiving weekend.
Black Friday promotions - coupled with falling gas prices, low-interest loans and hot new vehicles - drove U.S. auto sales higher in November, kicking off what's expected to be a strong holiday season.
Subaru and Chrysler led the major automakers in sales gains. Both saw sales increase around 20 percent on strong demand for their small SUVs. It was Subaru's best November ever and Chrysler's best November in 13 years.
General Motors, Toyota, Honda and Volkswagen also reported gains. Ford, Hyundai and Nissan all reported sales declines.
Car buying site Kelley Blue Book estimates that 25 to 30 percent of November's new vehicle sales happened over the holiday thanks to a flurry of Black Friday promotions. Because the holiday came late in the month, buyers also benefited from dealers' usual month-end sales push.
The TrueCar.com auto pricing site predicts total November U.S. sales will reach 1.3 million, up around 4 percent from a year ago and the fastest pace since August.
2 days ago