U.S. November New Vehicle Sales – 16M SAAR

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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.

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“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.