Click to enlarge.
New-vehicle sales for November are expected to maintain a steady seasonally adjusted annual rate (SAAR) of 16.0 million, consistent with the sales pace observed in October, according to the latest Cox Automotive forecast.* This is an increase from last November’s SAAR of 15.5 million as the Biden Administration economic recovery continues.
“With the U.S. election now in the rearview mirror, we may see vehicle sales finish the year in a strong position. With less uncertainty in the market, consumer confidence is moving higher, which will likely increase consumer willingness to buy a new vehicle. Additionally, vehicle affordability is improving, thanks to higher incentives and falling auto loan rates, which increase consumers’ ability to buy,” said Charlie Chesbrough, senior economist at Cox Automotive.
However, the sales volume is expected to reach 1.32 million, a decline of 1.3% from October but a 6.6% increase from one year ago, reflecting the differences in the number of selling days compared to last month and a year ago. There are 26 selling days this November, one less than last month and one more than November 2023.
EV Sales Expected to Surge in November and December
The election has sparked much speculation about the potential effects of a new Trump mis-administration on the auto market, particularly concerning electric vehicles and emissions standards given the general economic incompetence of Trump ‘s first term that destroyed the economy and jobs, as well as abandoning valuable global alliances and scoffing at climate change as a “Chinese Hoax,” AutoInformed observes.
AutoInformed on
“We may see an increase in electric vehicle (EV) and plug-in hybrid (PHEV) sales over the next few months as buyers move to take advantage of discounts that may disappear in 2025. There is concern that federal tax credits for EVs and PHEVs may be reduced or eliminated when the new administration takes office. As a result, EV sales may experience some tailwinds, leading to robust activity through the end of the year,” said Chesbrough.
*Cox Automotive
Cox Automotive says it is the world’s largest automotive services and technology provider. Fueled by the largest breadth of first-party data fed by 2.3 billion online interactions a year, Cox Automotive tailors leading solutions for car shoppers, automakers, dealers, retailers, lenders, and fleet owners. The company has 25,000-plus employees on five continents and a family of trusted brands that includes Autotrader®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital™, and vAuto®. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately owned, Atlanta-based company with $22 billion in annual revenue. Visit coxautoinc.com or connect via @CoxAutomotive on X, CoxAutoInc on Facebook, or Cox-Automotive-Inc on LinkedIn.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
U.S. November New Vehicle Sales – 16M SAAR
Click to enlarge.
New-vehicle sales for November are expected to maintain a steady seasonally adjusted annual rate (SAAR) of 16.0 million, consistent with the sales pace observed in October, according to the latest Cox Automotive forecast.* This is an increase from last November’s SAAR of 15.5 million as the Biden Administration economic recovery continues.
“With the U.S. election now in the rearview mirror, we may see vehicle sales finish the year in a strong position. With less uncertainty in the market, consumer confidence is moving higher, which will likely increase consumer willingness to buy a new vehicle. Additionally, vehicle affordability is improving, thanks to higher incentives and falling auto loan rates, which increase consumers’ ability to buy,” said Charlie Chesbrough, senior economist at Cox Automotive.
However, the sales volume is expected to reach 1.32 million, a decline of 1.3% from October but a 6.6% increase from one year ago, reflecting the differences in the number of selling days compared to last month and a year ago. There are 26 selling days this November, one less than last month and one more than November 2023.
EV Sales Expected to Surge in November and December
The election has sparked much speculation about the potential effects of a new Trump mis-administration on the auto market, particularly concerning electric vehicles and emissions standards given the general economic incompetence of Trump ‘s first term that destroyed the economy and jobs, as well as abandoning valuable global alliances and scoffing at climate change as a “Chinese Hoax,” AutoInformed observes.
AutoInformed on
“We may see an increase in electric vehicle (EV) and plug-in hybrid (PHEV) sales over the next few months as buyers move to take advantage of discounts that may disappear in 2025. There is concern that federal tax credits for EVs and PHEVs may be reduced or eliminated when the new administration takes office. As a result, EV sales may experience some tailwinds, leading to robust activity through the end of the year,” said Chesbrough.
*Cox Automotive
Cox Automotive says it is the world’s largest automotive services and technology provider. Fueled by the largest breadth of first-party data fed by 2.3 billion online interactions a year, Cox Automotive tailors leading solutions for car shoppers, automakers, dealers, retailers, lenders, and fleet owners. The company has 25,000-plus employees on five continents and a family of trusted brands that includes Autotrader®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital™, and vAuto®. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately owned, Atlanta-based company with $22 billion in annual revenue. Visit coxautoinc.com or connect via @CoxAutomotive on X, CoxAutoInc on Facebook, or Cox-Automotive-Inc on LinkedIn.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.