Setting the stage for a “huge” December, from Automotive News.
Plenty of incentive money left after Nov. sales rise 5%
Timely automaker Black Friday promotions and a strong economy drove U.S. auto sales higher in November.
Look for more of the same this month.
“Everything seems to be in place for a strong close, and the good Thanksgiving weekend results provide a great start to the holiday selling season,” Bill Fay, Toyota Division general manager, said in a conference call today.
Overall November sales rose 5 percent to 1.3 million light vehicles, more than most pundits had predicted. The seasonally adjusted annualized selling rate was 17.2 million, the second month this year above 17 million and well above the 16.3 million SAAR in November 2013.
Some analysts say the strong November may end up sapping some demand from the year’s final month. But with 2014 sales leadership in the full-size pickup and luxury segments at stake, John Krafcik, president of TrueCar, thinks a December incentives shootout is likely.