Larger inventories and greater fleet sales boosted light-duty sales.
4% lower than year-over-year, finds Cox Automotive Market Insights.
Cox Automotive forecasts sales will increase nearly 4% from 2022 and from January 2023.
November’s SAAR of 14.1 million units rose 7.9% compared to November 2021 but was down 6.5% compared to October 2022.
LMC Automotive and J.D. Power predict U.S. auto retail sales will rise in October as supply chains improve and make more vehicles available to dealerships.
J.D. Power and LMC Automotive report predicts average new vehicle transaction prices will hit a record $46,259 in August.
The seasonally adjusted, annualized rate of sales fell to 12.81 million in May, according to Motor Intelligence.
Combined sales at the seven major automakers that release monthly results dropped 17% in October. Automakers cite the semiconductor chip shortage and supply chain bottlenecks as the reason.
September new light-vehicle sales fell for the 5th consecutive month to a SAAR of 1.2 million units, reported the National Automobile Dealers Association (NADA).
All but a few Asian and highline factories reported double-digit gains in U.S. sales last month, priming the industry for a big December and a fifth straight 17 million-unit year.
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