Consumers spent a record $52.4 billion during the holiday weekend, excluding autos, according to the National Retail Federation. General Motors Co. (GM) put a Santa Claus look-a-like in its “Chevy’s Giving More” ads, while Honda Motor Co. wished buyers “Happy Honda Days” with zero due at lease signing, enticing buyers who have deferred auto purchases.
“The automakers are sending the consumer buying signals right now,” Jessica Caldwell, an analyst for researcher Edmunds.com, said yesterday in a conference call. “The year-end sales, Thanksgiving sales, Black Friday sales, holiday sales, whatever it is, there’s some sort of sale out there. It makes sense for consumers that if now is the time to buy something, from jewelry, to a flat-screen TV, it must also be a good time to get a deal on a car, too.”
U.S. Car Sales Are Best Since