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Tuesday, December 3, 2013

U.S. auto sales rise in November, boosted by discounts, (NYSE: F)

Major automakers reported their best U.S. sales month in six and a half years in November as aggressive discounting and the continued popularity of big pickup trucks helped trounce Wall Street forecasts.The industry's annual U.S. sales pace reached 16.41 million vehicles last month, the best monthly showing since February 2007, according to industry research firm Autodata. This handily beat expectations for a rate of 15.75 million.Yet shares of General Motors Co and Ford Motor Co slid more than 3 percent as some investors worried that the discounts signaled a return to the unhealthy practices that eroded industry profits in the years before the global recession of 2009.Other investors also fretted that consumers' need to replace aging vehicles, which propelled U.S. light vehicle sales after the recession, would not support the current pace of sales gains in 2015 and beyond.

Ford Motor Company (Ford) operates in the global automotive industry. Shares of F fell by 3.31% or $-0.565/share to $16.50. In the past year, the shares have traded as low as $11.03 and as high as $18.02. On average, 36439000 shares of F exchange hands on a given day and today's volume is recorded at 64923080.