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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: AuBug who wrote (498651)	11/25/2003 5:00:44 PM
From: Hope Praytochange	Respond to of 769670

U.S. Auto Sales Expected to Rise in Nov. By THE ASSOCIATED PRESS Filed at 4:29 p.m. ET DETROIT (AP) -- U.S. sales of new cars and trucks are expected to rise in November from last month and a year ago thanks to hefty showroom bargains, which are likely to continue for the remainder of the year. ``The pickup from the slowdown in October reflects an increase in incentives late in the month just in time for the long Thanksgiving weekend,'' Merrill Lynch analyst John Casesa says in a research report. Analysts expect those deals to increase in December -- as they did last year -- as automakers try to meet year-end sales targets. Major automakers report November auto sales Dec. 2. Casesa predicts November volume will be up 5 percent over the year-ago period. He expects GM to be up 10 percent, Ford up 5 percent and DaimlerChrysler's domestic brands down 5 percent, hurt by a mid-month incentive push at GM, the world's largest automaker. Casesa said non-Big Three automakers likely will outperform the overall market and notch a slight market share gain in November. ``November, however, will likely be just a prelude to a December blowout,'' he said. Goldman Sachs analyst Gary Lapidus predicts November sales to be up 8 percent from a year ago. He also anticipates the domestic arms of Toyota Motor Corp. and Nissan Motor Co. to continue their strong momentum, up 13 percent and 16 percent, respectively. ``Any November forecast should be published with the caveat that Thanksgiving weekend contributes a large percentage of the volume,'' Lapidus said in a research report. GM and No. 2 Ford both saw their U.S. sales decline more than predicted last month -- 7.7 percent and 2.8 percent, respectively -- as a late summer sales frenzy caused more of an industry backlash than expected. Others fared better. Chrysler, aided by heavy incentives, reported an 11 percent sales increase, and European brands Mercedes-Benz and BMW both had their best Octobers on record in the United States. Also, Toyota and Nissan reported double-digit growth on the strength of a variety of new or revamped vehicles. Through October, total Big Three sales were down 4.1 percent, while Asian brands were up 3 percent and European automakers were up 2 percent. Edmunds.com, which provides online vehicle buying information, said Tuesday that average incentive spending in the United States was $2,521 per vehicle last month, 31 percent above the year-ago period but down 3.9 percent from September. Incentive spending among the Big Three fell 4.8 percent from September to $3,445 a vehicle. At the same time, European automakers spent $1,693 per vehicle, Korean companies spent $1,666 and Japanese brands spent $931, according to Edmunds.com. In trading Tuesday on the New York Stock Exchange, Ford shares rose 37 cents to close at $13.00. GM shares were up 21 cents to close at $42.60, and DaimlerChrysler's U.S. shares were up 24 cents to close at $37.86. ^------ On the Net: ford.com gm.com daimlerchrysler.com