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Who Broke The All Time New Car Sales Record for the Month of November?

You Did!

November New Car Sales Steer Auto Industry Back on Record-Setting Path, According to Latest Edmunds.com Projections

It is just before the Thanksgiving holiday, and Edmunds is out with its newly revised November 2016 new car sales forecast... (drum roll please) The latest Edmunds forecast for November 2016 new car sales now projects that 1,365,369 new cars and trucks will be sold in the U.S. This updated projection boosts the estimated Seasonally Adjusted Annual Rate (SAAR) to 17.6 million vehicles sold. The updated projected sales volume from Edmunds shows sales volume unchanged from last month (October 2016), but represents a 2.7 percent increase from last year (November 2015).

This will set a new all-time November auto sales record, eclipsing the 1,329,668 new cars sold in November last year... Just when you thought the party was over, the auto industry seems to have caught its second wind!

SANTA MONICA, Calif. — Edmunds.com, the leading car information and shopping network, forecasts that 1,365,369 new cars and trucks will be sold in the U.S. in November, for an estimated Seasonally Adjusted Annual Rate (SAAR) of 17.6 million. The projected sales volume is unchanged from October 2016 but a 2.7 percent increase from November 2015 – and would be a November record, eclipsing the 1,329,668 new cars sold in November last year.

 

Edmunds.com projects that 15,844,726 new cars and trucks will be sold this year in the U.S. through the end of November, essentially the same as the 15,838,458 sales recorded through the first eleven months of 2015’s record-breaking year.

“It’s probably no coincidence that this month’s strong sales performance come at the same time that the Dow Jones Average reached an all-time high,” says Edmunds.com Executive Director of Industry Analysis Jessica Caldwell. “Now that the presidential election is over, shoppers have more confidence in the economy than they had just a month ago, and that gives them extra motivation to make big-ticket purchases. If this month’s forecast holds, December’s year-over-year sales only need to be flat to set a new annual record in 2016. Get your popcorn ready because it’s going to be a nail-biter.”

(Editor's Note: I have respected and admired Jessica Caldwell's work for over 15 years... RP)


SALES VOLUME FORECAST, BY MANUFACTURER

Sales Volume

November 2016 Forecast

November 2015

October 2016

Change from November 2015

Change from October 2016

GM

248,600

229,296

258,626

8.4%

-3.9%

Toyota

197,882

189,517

186,295

4.4%

6.2%

Ford

188,450

186,889

187,080

0.8%

0.7%

Fiat Chrysler

159,551

185,908

176,609

-14.2%

-9.7%

Honda

125,151

115,441

126,161

8.4%

-0.8%

Hyundai/Kia

112,010

105,560

111,482

6.1%

0.5%

Nissan

111,400

107,083

113,520

4.0%

-1.9%

VW/Audi

46,584

40,582

42,500

14.8%

9.6%

Industry

1,365,369

1,329,668

1,365,756

2.7%

0.0%

*NOTE: November 2016 had 25 selling days, November 2015 had 23 and October 2016 had 26.

 

Edmunds estimates that retail SAAR will come in at 14.8 million vehicles in November 2016, with fleet transactions accounting for 15.8 percent of total sales. An estimated 2.8 million used cars will be sold in November 2016, for a SAAR of 37.9 million (compared to 3.1 million – or a SAAR of 37.8 million – used car sales in October).

 

MARKET SHARE FORECAST, BY MANUFACTURER

Market Share

November 2016 Forecast

November 2015

October 2016

Change from November 2015

Change from October 2016

GM

18.2%

17.2%

18.9%

1.0%

-0.7%

Toyota

14.5%

14.3%

13.6%

0.2%

0.9%

Ford

13.8%

14.1%

13.7%

-0.3%

0.1%

Fiat Chrysler

11.7%

14.0%

12.9%

-2.3%

-1.2%

Honda

9.2%

8.7%

9.2%

0.5%

-0.1%

Hyundai/Kia

8.2%

7.9%

8.2%

0.3%

0.0%

Nissan

8.2%

8.1%

8.3%

0.1%

-0.2%

VW/Audi

3.4%

3.1%

3.1%

0.4%

0.3%

                                                                                                                          

More insight into recent auto industry trends can be found in Edmunds.com’s Industry Center at http://www.edmunds.com/industry-center/.

 

About Edmunds.com
Car shopping destination Edmunds serves millions of visitors each month. With Edmunds.com Price Promise®, shoppers can buy smarter with instant, upfront prices for cars and trucks currently for sale at 10,000 dealer franchises across the U.S. Shoppers can browse not only dealer inventory, but also vehicle reviews, shopping tips, photos, videos and feature stories on both Edmunds' wired site and on its acclaimed mobile apps.  Regarded as one of the best places to work in Southern California, Edmunds.com was also named one of “The World's Top 10 Most Innovative Companies of 2015 in Automotive” by Fast Company. Edmunds welcomes all car-shopping questions on its free Live Help Line at 1-855-782-4711 and help@edmunds.com, via text at ED411 and on Twitter and Facebook. The company is based in Santa Monica, Calif. and has a satellite office in downtown Detroit, Mich., but you can find Edmunds from anywhere on YouTubePinterestLinkedIn, Instagram, Google+ and Flipboard.

Views: 113

Tags: Data, Edmunds, November Car Sales, SAAR, Sales Record, Seasonally Adjusted Annual Rate, projection, sales

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