Sales rose last month for two of Detroit’s biggest car makers, good news for the long-struggling industry.
Chrysler reported sales in the U.S. jumped 45% in November, citing strong demand for its Jeep models, while General Motors' (GM: 21.08, -0.21, -0.99%) U.S. sales rose 7%.
The two companies were among the first to report November sales Thursday.
The solid numbers were widely predicted, as consumers have delayed some big ticket items such as new homes, during the economic slump, but are slowly and warily heading back into the car market.
The car makers themselves have participated in the revival, offering consumers all manner of incentives. Research firm said Chrysler offered incentives worth nearly $3,300 per vehicle last month.
Chrysler said in a statement it sold 107,172 new cars and trucks in November, up from 74,152 a year earlier. Jeep sales rose 44%, primarily on robust sales of its Compass crossover and the Liberty compact SUV.
GM said it sold more than 180,000 cars and trucks, with sales of its Chevrolet Cruze leading the way. Pickups were also popular, as sales of the Chevy Silverado rose 34%.
GM and Chrysler both required government bailouts in the wake of the recent financial crisis after struggling for years with declining sales and soaring costs. Massive restructurings have reduced debt and streamlined their operations.
Shares of GM rose 15 cents, or 0.7%, to $21.44, well below the stock’s initial public offering price of $33 a year ago.