November New-Car Sales Expected to Rise

By Staff Writer November 29, 2021

TrueCar Inc. forecasts total new-vehicle sales will reach 1,073,042 units in November 2021, down 15% from a year ago but up 14% vs. October 2021, when adjusted for the same number of selling days. This month’s seasonally adjusted annualized rate (SAAR) for total light vehicle sales is an estimated 13.7 million, down 12% from November 2020. Excluding fleet sales, TrueCar expects U.S. retail deliveries of new cars and light trucks to be 971,021 units, down 16% from a year ago and up 16% from October 2021.

“We continue to see small signs of new vehicle inventory levels rebuilding on dealer lots,” said Nick Woolard, Lead Industry Analyst at TrueCar. “However, demand remains strong and continues to push new transaction prices to record levels. Average incentive levels for November are expected to be $1,895 which would be the lowest since 2005, according to Motor Intelligence historical data.”

“As expected, we are seeing stronger sales performance for those brands that ramped up production levels in recent months,” said Valeri Tompkins, Senior Vice President of OEM Solutions at TrueCar. “Ford in particular is one of the few brands showing gains vs. last year. This is largely driven by new products such as Bronco and Bronco Sport.”

TrueCar also reports:

  • Used vehicle sales for November 2021 are expected to reach 3 million, up 2% from a year ago and down 12% from October 2021. 
  • The average interest rate on new vehicles is 4.3% and the average interest rate on used vehicles is 7.5%.
  • The average loan term on a new vehicle for November 2021 is 70 months and likewise the average loan term on a used vehicle is also 70 months.
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Last modified on Tuesday, 30 November 2021 15:23