November U.S. car sales rose to a new record: U.S. car sales rose more than we were expecting it will be in November, we had an increase of 3.7% of the industry sales, it shattered a record for the month that was set in November 2001. Auto sales rose at a seasonally adjusted annual rate of 17.87 million. Economists had estimated that sales rose at a 17.7 million rate. The sales were aided by two extra selling days from a year ago and fueled by Black Friday promotions and while there was concern about shaken consumer confidence after Donald Trump was elected president earlier in the month, car buyers apparently did not hold back.
Analysts and auto executives say the month was strong: competition for buyers was aggressive, incentives were up and there was plenty of stock on new-car lots. SUVs and trucks remained hot sellers, as consumer interest in cars continues to wane. Sales of light passenger trucks, including crossovers and SUVs, increased 8.5% last month, while passenger car sales decreased 3.1%. Trucks accounted for 58.8% of all vehicles sold.