When November U.S. auto sales are released tomorrow, it’s expected to tally at 1,365,369 new cars and trucks sold with an estimated Seasonally Adjusted Annual Rate (SAAR) of 17.6 million. The projected sales volume is unchanged from October 2016, but a 2.7% increase from November 2015. (AutoData said when the results were in that the seasonally adjusted annual rate – SAAR- in November was 17.87 million.)
This would be a November record, eclipsing the 1,329,668 new cars sold in November last year. Year-to-date sales are essentially the same – as the 15,838,458 sales recorded through the first eleven months of 2015’s record-breaking year.
“It’s no surprise that Black Friday makes or breaks an automaker’s success in November. But it’s important to remember this is a relatively new trend for the auto industry,” said Executive Director of Industry Analysis Jessica Caldwell of Edmunds.
”Since 2013, the weekend after Thanksgiving has accounted for an average of 91% more sales than a typical weekend in November. By comparison, the average Thanksgiving weekend lift was merely 39% from 2010 to 2012. Dealers and automakers clearly have found a way in recent years to break through the Black Friday clutter and connect with more car shoppers.
“November sales have the industry well-positioned to set a new annual sales record this year,” Caldwell said, but a new record is notguaranteed.
“Expect to see a flood of ads for holiday season sales events in the coming days and weeks, especially for luxury brands, trucks and SUVs. If we see any year-over-year lifts in these segments in December, then it’s a good bet that the industry will top last year’s record-high sales. Leasing accounts for a larger share of new car transactions than ever before, and nowhere is this truer than in the luxury market. In fact, luxury automakers are on track this year to lease more cars than they sell for the first time ever” said Caldwell.
