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GM, Ford, Chrysler US sales soar in November

December 01, 2010

General Motors on Wednesday reported US car sales for November jumped 11.4 percent from a year ago in a month marked by GM's historic return to Wall Street as it sheds government ownership.

Ford also reported US sales rose 24.3 percent in November from the same period in 2009, with 147,338 vehicles sold.

"Ford's broad range of high-quality, fuel-efficient vehicles is driving one of our best years ever and positioning Ford to deliver improved results in the future," said Ken Czubay, Ford vice president of sales and marketing.

GM, the largest US automaker, said sales of its four brands -- Chevrolet, Buick, GMC and Cadillac -- totaled 168,704 vehicles in November, up 11.4 percent from November 2009.

"Each brand came to the party in November," said Don Johnson, US sales operations vice president.

"These results show that our brands continue to gain momentum with consumers who want stylish, fuel-efficient vehicles," he said in a statement.

GM returned to public trading on November 18, marking a dramatic turnaround for the embattled company.

The Detroit, Michigan-based automaker was forced into bankruptcy protection in June 2009 amid massive debts and a 50-billion-dollar government bailout.

The initial public offering of shares, which raised more than 23.7 billion dollars, lowered the government stake in the company below 50 percent and recouped 11.7 billion dollars for US taxpayers.

Chrysler, which was also salvaged by a massive taxpayer-funded bailout, also reported US sales rose 17 percent in November from last year, in the eighth straight month of year-to-year sales increases.

Chrysler sold 74,152 vehicles last month, it said.

"We are pleased with the sales momentum that has been building this year, and elated now that we are showing off the vehicles that we've been talking about," said Chrysler's US sales chief Fred Diaz.

GM shares were up two percent and Ford stocks jumped 3.5 percent following their monthly US sales reports.

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