U.S. Auto Sales Jump 15%

Carmakers sold 1.14 million light vehicles in the U.S. in November compared with 994,700 units a year earlier, paced by a 43% surge in small-car demand, according to Autodata Corp.

The total equates to an annual sales rate of 15.54 million vehicles the highest since January 2008 and compares with 13.55 million units in November 2011.

Automakers credit strong demand to cheap financing and an aging American vehicle fleet. Ford estimates that replacement of vehicles destroyed by Hurricane Sandy boosted the car market by as much as 30,000 units.

In the January-November period, American sales have climbed 14% to 13.16 million vehicles.

Domestic brands boosted volume 7% to 482,600 vehicles last month, led for the second consecutive month by Chrysler, which hiked sales 13% to 119,000 units. Demand grew 6% to 177,100 vehicles at Ford and 3% to 186,500 units at General Motors.

November volume for Asian marques in the U.S. jumped 21% to 524,400 vehicles, in part because Japanese carmakers are bouncing back from unusually low 2011 levels caused by Asian natural disasters. Group sales soared 39% (to 116,600 vehicles) at Honda and rose at Toyota (+17% to 161,700 units) and Nissan (+13% to 96,200 units).

Hyundai and Kia increased sales 8% to 53,500 vehicles and 11% to 41,100 units, respectively.

American demand for European brands zoomed 28% to 136,500 vehicles last month, including big gains at Volkswagen (+29% to 36,700 vehicles) and BMW (+45% to 31,200 units). Mercedes-Benz car sales climbed 13% to 30,300 units.

Brands reporting November-record sales include Audi, Honda, Hyundai, Infiniti, Kia, Mercedes, Mini, Nissan and Subaru. VW posted its strongest November volume since 1973. BMW and Porsche each had its best sales month ever in the U.S.

BMW has narrowed Mercedes' cumulative lead in the 2012 American luxury sales race to less than 1,900 vehicles from 2,800 units a month earlier and a 5,300 units in September.

U.S. passenger car volume advanced 22% to 564,700 units in November. Light truck sales rose 9% to 578,800 units.