Record Auto Sales Expected in November
Nov. 25, 2015—This month could be the best November ever for U.S. auto sales, according to forecasts from TrueCar and Edmunds.com, and it also could mark the first time in history that the industry’s seasonally adjusted, annualized selling rate has topped 18 million units for three consecutive months.
If these reports hold true, 2015 is likely to beat the all-time high of 17.402 million, set in 2000.
TrueCar estimates that sales will rise 3.9 percent this month from November 2014, which had two more selling days and one additional weekend. It projects a seasonally adjusted annualized rate (SAAR) of 18.6 million, which would be the fifth-highest monthly rate ever. Edmunds projects a sales increase of 2.5 percent and a SAAR of 18.3 million, which would still be a 10-year high.
“This month continues to be a standout year for the industry, with November sales likely setting a monthly record,” Eric Lyman, TrueCar’s vice president of industry insights, said in a statement. “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.”
Black Friday now marks the beginning of a huge weekend for car dealerships. Edmunds said Thanksgiving weekend accounted for twice as many sales as any other November weekend last year.
“Not even a decade ago, November was a notoriously slow sales month, and it typically ranked as the third worst month for sales in the calendar year,” Jessica Caldwell, Edmunds’ director of industry analysis, said in a statement. “But in recent years, car dealers have joined other retailers to embrace Black Friday as a big sales driver. Since 2010, November has delivered one of the three best SAARs in each year.”