By Patrick Manzi, NADA Senior Economist

It seems we are on pace for another year of 17 million units, with new light-vehicle sales registering a 16.94 million SAAR through November. An extra selling weekend, one of which included Black Friday sales events, helped push total volume last month to 1.41 million units, slightly above November 2018. And fleet sales represented roughly 17% of volume this November, down slightly compared to last November.

Through 11 months of the year, sales are off last year’s pace by only 146,000 units. Crossovers and pickups were the only two segments to gain market share, while all car segments continued to post declines. The light-truck segment, which includes crossovers and pickups, represented 71.8% of all new vehicles sold.

According to J.D. Power and LMC Automotive, incentive spending in November is expected to top $4,500 per unit once final data are in. This would best the all-time high of $4,387 set in December 2017. We expect incentive spending next month to remain elevated, but not quite a record breaker, as dealers make a year-end push to clear their lots of excess inventory.

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Posted by NADA

National Automobile Dealers Association