US auto sales improve ever-so-slightly in November

ERJ staff report (AN)

by Chrissie Thompson

Detroit, Michigan -- U.S. auto sales increased fractionally in November for the industry's first year-over-year gain without government incentives since October 2007. The decline for the year to date remains at 24 percent.

The slight sales increase in November -- a mere 35 vehicles -- accompanied a seasonally adjusted annual sales rate of 10.5 million units, in line with the industry's “new normal” after a four-year decline and this summer's cash-for-clunkers incentive.

“Stability is good," said Jessica Caldwell, an analyst with consumer auto site Edmunds.com. "We'd like to see some growth, but I think most automakers right now would take stability.”

U.S. light-vehicle sales averaged 16.4 million units annually this decade through last year. In an accelerated decline, sales fell to 13.2 million units last year, reaching quarter-century lows by November 2008. That means today's comparisons are being measured against the worst November in decades.

October's 11.2 million SAAR reflected the first month this year in which seasonally adjusted demand passed 10 million units, not including the July and August boosts from the federal government's cash-for-clunkers program. August's U.S. sales increased 1 percent.

From Automotive News (A Crain publication)