SANTA MONICA, Calif., Nov. 23, 2016 /PRNewswire/ -- 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."
SALES VOLUME FORECAST, BY MANUFACTURER
November 2016 Forecast
Change from November 2015
Change from October 2016
*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).
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 [email protected], 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 YouTube, Pinterest, LinkedIn, Instagram, Google+ and Flipboard.