US: Edmunds picks 15.7m November SAAR

By Graeme Roberts | 22 November 2013

Data cruncher Edmunds.com forecasts November US light vehicle sales at 1,196,663 units and an estimated seasonally adjusted annual rate (SAAR) of 15.7m.

It is calling a 0.7% month on month fall from October 2013 but a 4.7% increase over November 2012.

JD Power and LMC Automotive forecast earlier SAAR would be in excess of 16m units in November as retail customers continued to drive sales up. 

US consumers were expected to spend more than US$30bn on new vehicles in November, a historic high for the month.

The two firms are close on November volume with JDP/LMC saying total light vehicle sales in November were expected to reach 1.2m, a 3% increase from November 2012.

"Consumer demand for new vehicles remains strong," said John Humphrey, senior vice president of the global automotive practice at JD Power.

“Any economic uncertainty that car shoppers might have felt in October seems to be a distant memory by now,” said Edmunds senior analyst Jessica Caldwell.

“Car buyers are already taking advantage of advertised holiday deals and as we plow deeper into the holiday season the table is set for 2013 to finish on a very strong note.”

Edmunds.com called retail SAAR at 13.3m vehicles for November with fleet deals taking 15% of total sales. It estimated 2.66m used cars would be sold in November, for a SAAR of 36.5m.

Chrysler sales were expected to rise 10% year on year with a 4% monthly fall. VW/Audi was projected to fall more than any other major automaker this month (-6.6%), even though it was expected to climb higher than any other automaker month to month (+10.8%).