November new-vehicle sales are up an estimated 10% year-over-year, according to a J.D. Power forecast.
The data provider updated its seasonally adjusted annual rate to 15.5 million units, up by 1.4 million year-over-year.
New-Car Sales Rise in November
Strikes don’t impact deliveries, which are benefiting from rebounding inventory.
November 22, 2023
Retail sales alone are also up, by an estimated 13% to 1,041,000.
IMAGE: Pexels/Torsten Dettlaff
1 min to read
Retail sales alone are also up, by 13% to 1,041,000, J.D. Power estimates.
The deliveries increase is due to continuously improved inventory, despite the union strikes in Detroit, it said, estimating that retail supplies will end the month at about 1.6 million units, up about 8% month-over-month and a whopping 44% year-over-year, though still down more than 40% from before the pandemic.
The rebalancing is pushing down the average retail sales price, which fell about 2% year-over-year in November to $45,332, J.D. Power said.
Dealer profits, though, are still high, it said. Profit per unit is an estimated $3,002, down about 29% year-over-year but “more than double” that of November 2019.
Originally posted on Auto Dealer Today
More Showroom
EVs Gain Traction in Europe
First-quarter auto sales increased as more consumers took advantage of government incentives. Hybrid deliveries are leading the way on the electrifieds boom.
Read More →
California Holds EV Lead Despite Annual Decline
At nearly 14%, California had the lowest zero-emission vehicle market share in the first quarter since the fourth quarter of 2021, according to the California New Car Dealers Association.
Read More →
Will Extended-Range Autos Make Inroads?
EREVs, also known as ‘series hybrids,’ may catch on in the U.S., where they currently have barely a toehold, as automakers tilt away from some purely electric models and consumers crave more range.
Read More →
Electrifieds Lead EU New-Vehicle Sales
Hybrids in particular lead not only EV market share but all power trains on the continent so far this year as gas and diesel continue their decline.
Read More →
Hyundai Expands North American Footprint
Building on a previously announced $26 billion U.S. investment, Hyundai said it will grow its North American lineup and U.S.-based production and parts sourcing.
Read More →
Afeela EV Brand Fails to Leave the Factory
Sony-Honda venture cancels two planned models, the first of which had been pegged for a mid-2026 California delivery debut. The brand’s direct sales had been challenged by the state’s auto dealers, but the venture cites Honda’s EV retreat.
Read More →
Used-Vehicle Sales Jump in February
Softening prices, rising credit availability and higher tax refunds could be behind February’s sales pace rise and accompanying dip in inventory, according to Cox Automotive.
Read More →
Black Book: Weekly Market Update
The wholesale automotive market fared remarkably well given the U.S.-Israel war on Iran, Black Book analysts reported.
Read More →
FTC Targets Auto Dealers Over ‘Deceptive Pricing’
The agency sent warning letters to dozens of auto groups about what it described as illegal practices and urged them to ensure their pricing policies enable transparency with consumers.
Read More →
Used Market Gains Speed
New-vehicle sales fell year-over-year for the fifth month in a row in February, making retail deliveries the slowest they’ve been since 2023, according to a CarGurus report.
Read More →