U.S. consumers being more confident now coupled with the fact that automakers heavily discounted their cars have made the second fastest sales growth in more than two years.
Carmakers saw an opportunity to offer discounts on the remaining 2011 stock with higher incentives, 10 percent higher than last month. Adding to that low-rate financing and reduced leasing payments.
GM interested in reducing its inventory of full-sized pickups made offers of 4,500 U.S. dollars off on its ’11 GMC Sierra and Chevrolet Silverado Pick-ups. This may have made GM sales rise 4.9 percent, says analysts estimates, whilst Ford may have seen an increase of about 8.5 percent. Although Chrysler Group LLC, owned by Fiat SpA, which may have a whopping increase of 35 percent compared to the same month last year.
Aired holiday ads and promotions that began at the end of November like General Motors Co. campaign “Chevy’s Giving More”, that portrayed Santa Claus as the salesman and Nissan Motor Co. “Most Wonderful Sale of the Year” campaign offered buyers no-interest loans and rebates. These campaigns successfully made sure consumer were made aware of all the new promotions currently on offer.
Supply of cars has risen back for Honda, since the earthquake that disrupted Hondas facilities in Japan earlier this year, and has been said that Toyota sales were a lot better in December than November.
Kia Motors Corp. and Hyundai Motors Co. had a combine sales boost of 33 percent. The U.S. market share rose through November to 9 percent from its last year share of 7.8 percent.