American Auto Sales Reach New Heights in November
November was a perfect storm for automakers selling in the United States. Falling gas prices coupled with low interest rates and Black Friday sales promotions pushed monthly nationwide vehicle sales to 1.3 million, a 14-year high, according to Autodata Corp.
While Black Friday sales for cars might seem like a no-brainer, according to ABC News one of the biggest buying days of the year didn’t become part of the auto industry sale calendar until about five years ago during the recession. Some automakers had Black Friday sales close to Thanksgiving this year, while some chose to stretch their promotions to the entire month (or beyond).
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Automakers are making the most of this time of robust car sales, as factors like rising interest rates and gas prices might cut in on the party. LMC Automotive, a sales forcasting firm, estimates that before the end of 2015 car sales could reach 17.5 million vehicles, which would be a record.
While automakers like Nissan and Toyota saw sales rise about 3% or more, the overall auto market rise was hampered by lackluster sales from Ford and Honda. Thanks to the Dieselgate scandal, Volkswagen saw a sales decline of about 25% (we were expecting a bigger drop, to be honest).
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We’re crossing our fingers that auto sales break the record this year. With so many sales for Christmas and the end of the new year, we’re thinking that it looks very possible.
News Source: ABC News