US: November auto sales on track to hit record figures image

Another projection is indicating November to be a record month in auto sales in the US, with a big push given by the “Black Friday” euphoria.

There were many reports lately stating that November would be the highest ever month in terms of auto sales in the US, with the Black Friday discount fever driving numbers over the top. In recent years, car dealers have joined other retailers to embrace Black Friday as a big sales pusher, thus November has gradually shifted from being a notoriously slow sales month, and typically ranked as the third worst month for sales in the calendar year, to one of the most profitable periods for the automakers. predicted 1,331,415 new cars and trucks to be sold in the US this month, very close to the biggest November in the industry’s history, with twice the sales usually recorded for the weekend that just passed.

Another projection comes from TrueCar, Inc. which estimates the total new vehicle sales, including fleet deliveries, will reach 1.352 million units in November, a 3.9 % increase from a year ago. If last year’s seasonally adjusted annualized rate for total light vehicles was 17.1 million units, the expected rose in delivers this month would boost the rate to 18.6 million vehicles. The generally high demand in conjunction with Black Friday promotions may lead to a 3 percent increase in retail sales, up to 1,157,800 units. “This continues to be a standout year for the industry, with November sales likely setting a monthly record,” said Eric Lyman, TrueCar’s vice president of industry insights. “Consumers are excited about Black Friday promotions and these month-long events appear to be resonating with car buyers. Brands that advertised early, Chevrolet, Hyundai, Jeep and Ram, are expected to outperform the industry.”

Via the Detroit Bureau