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BRIEFLY / AUTOS

Sales Increase of 6% Anticipated for Chrysler

November 28, 1998|Bloomberg News

November auto sales for DaimlerChrysler's Chrysler unit are expected to rise about 6%, less than the 9.4% predicted earlier this month, when truck sales looked stronger. The company is still trying to build a supply of Jeep Grand Cherokee sport-utility vehicles to meet demand, said industry consultant Michael Luckey, who lowered his estimate. Luckey trimmed his industrywide estimate for domestic cars and light trucks to a 4.7% increase, from 5.3%. Sales estimates for Chrysler vary this month, the first reporting cycle since Daimler-Benz acquired Chrysler for $35 billion. October was a strong month for Chrysler, with sales rising 20%, and analysts disagree on how much of that will spill over into November. DaimlerChrysler is expected to report Chrysler sales Tuesday and follow later in the week with Mercedes-Benz sales. Ford Motor Co. revenue is expected to come in about 2% ahead of last year on the strength of the company's truck sales, while General Motors Corp.'s sales will rise about 3%. DaimlerChrysler shares rose $3.25 to close at $93.44 on the New York Stock Exchange.

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