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Black Friday deals helped lift U.S. auto sales

Black Friday deals were expected to pull U.S. auto sales out of their recent slump in November

Published: December 2, 2016 4:00 AM

DETROIT (AP) -- Black Friday deals -- a relatively new phenomenon for the auto industry -- were expected to pull November U.S. auto sales out of their recent slump.

General Motors' sales jumped 10 percent over last November, while Toyota's sales were up 4 percent. Nissan's sales rose 7.5 percent.

Fiat Chrysler bucked the trend, with sales falling 14 percent. Other automakers were expected to report sales later Thursday.

Total sales of new cars and trucks were expected to rise 4 percent for the month to 1.37 million units, according to Kelley Blue Book. That would be the highest November on record, beating the previous record of 1.32 million set in 2001.

Higher incentives enticed buyers who sat out much of the fall. July was the last month that sales increased year-over-year. In mid-November, incentives were averaging 12 percent of the price paid for new vehicles, which is one of the highest percentages in recent years, according to Barclay's analyst Brian Johnson.


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