Honda reported record sales last month, as the US auto industry paced the best November in almost five years.
Honda’s sales increased 39%, way better than analysts’ expectations of 33%. Nissan and Ford also beat analysts’ predictions, while Toyota’s sales were up 17%. According to Autodata Corp. the adjusted annualized industrywide light-vehicle sales rate reached 15.5 million, more than the 15 million estimated by analysts. The increase was due to the customers’ need to replace the cars destroyed by Hurricane Sandy at the end of October.
“There were clearly positive impacts from Sandy with a lot of consumers who didn’t even plan to buy but had to buy because their cars were damaged. That’s going to continue to help in December,” said Jesse Toprak, industry analyst for TrueCar.com.
Honda said that the Civic compact and Accord sedan models reached a 76% increase and 83% respectively compared with the same period last year. The CR-V compact crossover, which is the best-selling SUV in the US this year, increased 36% in November. Through November Honda’s sales in the US rose 24% and its market share reached 10.2% in November, from 8.4% in November 2011.