Dow Jones reports that US auto sales in November are expected to show a healthy rebound from sluggish October results, as a direct result of market incentives.
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The auto industry reports November vehicle sales on Dec. 2.
The report said that analysts see the adjusted annual rate for November light vehicle sales coming in a range of 16.3 million to 16.7 million vehicles. That would be a strong recovery from October, when adjusted sales slipped to 15.7 million vehicles and would be slightly better than the 16 million vehicles reported a year ago.
Any November forecast “should be published with the caveat that Thanksgiving weekend contributes a large percentage of volume,” analyst Gary Lapidus at Goldman Sachs & Co. wrote Tuesday. He said he sees November adjusted sales coming in at about 16.7 million vehicles, but noted that “a strong holiday weekend could bump the monthly sales rate towards 17 million. A real turkey of a close could drop adjusted sales down to the low 16 million range.”
Dow Jones said that among the Detroit Big Three, GM likely had the most generous incentives in November at around $4,180 per vehicle in the month.
