1 Thing General Motors and Ford Motor Co. Had in Common Last Month
Whether it's in sports, in business, or in comic books, the world loves a good rivalry -- and few can match the longtime crosstown competition between General Motors (NYSE: GM) and Ford Motor Co. (NYSE: F). Despite their decades-long duel for prestige and market share, the two largest Detroit automakers also have much in common, including incredible outlandish price tags in November.
Everybody knows Detroit's bread-and-butter products are SUVs and full-size pickup trucks. Those vehicles command juicy margins and keep the carmakers' lights on. Better yet, as the manufacturers have crammed more and more technology and features into them, they've been able to push average transaction prices higher, driving incremental revenue at a time when U.S. sales are plateauing.
In fact, General Motors' strong SUV sales drove its companywide average transaction prices (ATPs) above $37,000 for the first time ever. Price tags were up more than $650 from October, and more than $1,400 compared to the prior year's November. That well outpaced its competitors: GM's ATPs were an impressive $4,500 above the industry average, and almost $2,000 higher than any domestic automaker.
Source: Fool.com