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With the long holiday weekend behind us, we’ll find out if buyers found any Black Friday deals at local dealers when automakers report November new vehicle sales this week.
Early indicators suggest people went to the mall instead. LMC Automotive and J.D. Power in their joint November forecast believe the retail sales numbers will be flat, increasing just three tenths of a percent. That’s a little under 935,000 vehicles.
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While everyday shoppers didn’t head to dealers, the pair predict overall sales — driven by fleet purchases — will rise 5.6% on a year-over-year basis.
Fleet volume, which includes vehicles bought by organizations like government agencies or businesses, is expected to account for 15% of total light-vehicle sales, up from 10% a year ago. It’ll push the total number of light-vehicle sales to about 1.1 million units.
The results represent a significant decline from last month as retail sales dropped nearly 50,000 vehicles from October to November. The overall sales number, which includes fleet sales, is predicted to be down more than 70,000 units.
Why the decline? Combine higher interest rates with lower incentives and a constrained supply and you get people keeping their money in their pockets in November.
Maybe we’ll get to see a bunch of big red ribbons on new vehicles in December.
Most automakers report their November results Dec. 1, while Ford and a few others chime in Friday, Dec. 2. We’ll also cover any breaking news while producing several detailed features as we keep you informed in the week ahead.
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