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Edmunds sees uptick in Nov. auto sales
Jesse Toprak, executive director of industry analysis, said sales improved over October due to record-high sales incentives and a 'sense of relief' that the presidential election is over. He also said rock-bottom prices for sport-utility vehicles may have boosted volumes. In October, vehicle sales plunged 32 percent to their lowest point in more than 17 years, as the credit crunch, the sluggish economy and the plunge in consumer confidence undercut demand. Edmunds is projecting a decline of 4 percentage points in combined monthly U.S. market share to 47.1 percent for General Motors Corp., Ford Motor Co. and Chrysler LLC compared with November 2007. In October, the automakers' market share was 47 percent. The Detroit automakers spent last week pressing Washington for a federal rescue of $25 billion, claiming they are burning through cash so quickly their survival is in question. Lawmakers, however, were unmoved, and told the companies to return in December with a plan to return to viability.