Automakers have best November since 2003

Automobile sales in the U.S. during the month of November hit a high note not seen in over a decade. November sales hit 1.3 million, beating analysts’ predictions of 1.27 million and up 4.6 percent compared to the same month last year.

The annualized sales rate for the industry in November landed at about 17.1 million, making it the most productive pace for that month since 2003, Reuters reports.

A healthy economy, solid discounts and low fuel prices were credited with luring buyers to dealerships. Chrysler Group, General Motors Co., Honda Motor Co. and Toyota Motor Corp. all reported gains last month compared to November 2013, while Ford Motor Co. and Nissan Motor Co. posted modest declines.

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