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Kicking the tyres

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Toyota (NYSE: TM, initial buy $94.45) reported November 2015 sales of 189,517 units, an increase of 3.4 percent year over year on a volume basis. However, with two less selling days in November 2015 than in November 2014, sales were up a more impressive 12.4 percent on a daily selling rate (DSR) basis.

© Image copyright ojbyrne

Group vice president and general manager for the Toyota Division, Bill Fay remains bullish, saying “The auto industry is on-track to exceed 2015 expectations,” and adding “With the best Black Friday weekend in eight years, Toyota’s record sales of RAV4 and Light Trucks overall contributed to double-digit growth in November.” 

Lexus impressed again, reporting November sales of 29,340 units, up 6.8 percent from November 2014 on a volume basis and a strong 16.1 percent on a DSR basis.

The BMW (DE: BMW, initial buy at €57.60) Group (BMW & Mini combined) reported November sales of 36,447 vehicles, representing a slight 1.2 percent increase over the same month a year ago.  Sales of BMW brand vehicles increased 3.2 percent in November for a total of 32,003 compared to 31,019 vehicles sold in November 2014.  Year-to-date, the BMW brand has maintained its strong showing and US sales (311,398) are up 4.4 percent compared to the same period of last year.

As we already touched on in yesterday’s Daily, Volkswagen (DE: VOW, initial buy at €177.20) trading figures for sales of passenger cars in the US in November took a significant hit. Sales were down 24.7% on a year ago to 23,882 in the month, which dragged the year to date figure 4.3% lower to 318,484. This was to be expected. However, the premium brands have not been as severely impacted with US Porsche sales down by 5.3% in November on a year ago. Year to date sales of Porsche in the US are nevertheless still 9.3% higher.

Audi has been on fire in the US for years now and although growth slowed in November, only edging up 0.4% on a year ago to 16,700 vehicles, year to date the brand has seen new vehicle sales in the US increase by 11.7% on a year ago to 181,803 vehicles.

Finally, Tata Motors (NYSE: TTM, initial buy $34.56) owned Jaguar Land Rover continued to purr in November, following on from that strong showing last month, their best ever October sales in the US.

Jaguar Land Rover US sales surged 55 percent year-on-year to 7,604 units, making it the best November in America for the company in over a decade. Land Rover models continued to lead the way, with unit sales soaring 79 percent to 6,539 units, while Jaguar sales contracted 15 percent to 1,065 units.

Year to date in 2015, Jaguar Land Rover sales hit 75,410 units in November representing an increase of 26 percent over the comparable period of 2014. While many investors have focused on the slowdown in Chinese auto sales for the company and are extrapolating those trends far out into the future (a view we disagree with), Jaguar Land Rover sales have been performing strongly in the UK, Europe and the United States.

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