November’s SAAR of 14.1 million units rose 7.9% compared to November 2021 but was down 6.5% compared to October 2022.
LMC Automotive and J.D. Power predict U.S. auto retail sales will rise in October as supply chains improve and make more vehicles available to dealerships.
J.D. Power and LMC Automotive report predicts average new vehicle transaction prices will hit a record $46,259 in August.
The seasonally adjusted, annualized rate of sales fell to 12.81 million in May, according to Motor Intelligence.
Combined sales at the seven major automakers that release monthly results dropped 17% in October. Automakers cite the semiconductor chip shortage and supply chain bottlenecks as the reason.
September new light-vehicle sales fell for the 5th consecutive month to a SAAR of 1.2 million units, reported the National Automobile Dealers Association (NADA).
All but a few Asian and highline factories reported double-digit gains in U.S. sales last month, priming the industry for a big December and a fifth straight 17 million-unit year.
Once treated as classified information, factory parts data is now shared freely. Opportunistic franchised dealers are seizing the opportunity by selling unneeded inventory to independent repair shops.
The U.S. new-vehicle sales forecast improved to 17.42 million units in March, but sales fell 3.1% year-over-year against slowing demand fueled by higher interest rates, prices, and payments and reduced incentive spending.
Despite the expected volume decline, the firm put September’s seasonally adjusted annual sales rate at a healthy 17.1 million, down from last September’s 18.1 million SAAR. The company said higher interest rates and talks of tariffs may be having some pull-ahead impact in the market.
media brand
The secure and easy all-access connection to your content.
Bookmarked content can then be accessed anytime on all of your logged in devices!
Already a member? Log In