New-vehicle retail sales for November 2024 are expected to increase from a year ago, according to J.D. Power. Retail sales of new vehicles are expected to reach 1,153,100, a 10.1% increase from November 2023 when adjusting for selling days. Comparing the same sales volume without adjusting for the number of selling days translates to an increase of 14.5% from 2023.

“November’s results highlight strong sales performance, driven by rising inventory levels for certain brands and deeper discounts from both manufacturers and retailers,” said Thomas King, president, data and analytics division at J.D. Power. “Retail inventory is projected to be 2.1 million units, a 5.4% increase from October and a 29.7% increase from November 2023. Rising inventory levels are leading to deeper discounts from both manufacturers and retailers. However, inventory availability remains uneven across brands and models, with some high-volume vehicles still facing shortages.”

“Total retailer profit per unit—which includes vehicles gross plus finance and insurance income—is expected to be $2,276, down 21.2% from November 2023. The decline in profits is primarily driven by rising inventory levels, with fewer vehicles selling above the manufacturer’s suggested retail price (MSRP). Thus far in November, only 11.6% of new vehicles have been sold above MSRP, which is down from 22.0% in November 2023.”