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New-Car Sales Down from Last November

New-Car Sales Down from Last November

New-vehicle sales are expected to fall 1 percent year-over-year to a total of 1.36 million units in October 2017, according to Kelley Blue Book. This could add up to some good deals for consumers.

This will result in an estimated 17.1 million seasonally adjusted annual rate (SAAR).

“Following two months of more than 18 million SAAR, we project November sales to return to the low 17 million range,” said Tim Fleming, analyst for Kelley Blue Book.

“The strong numbers from the last two months were influenced by replacement demand in the hurricane-impacted regions of Texas and Florida, which appears to be largely satisfied at this point,” Fleming said.

Fleming added that, despite the lower sales, this will be the second highest November on record, trailing only November 2016.

More than a few sales records could be broken this month.

After a record year of sales in 2016 and seven consecutive annual increases, Kelley Blue Book’s forecast for 2017 calls for sales in the range of 17 and 17.2 million units, which represents a 1.5 to 3 percent decrease from last year.

Lower sales are coming at a time when dealers are still clearing out 2017 models as the 2018s come in strong. Expect your local dealer to be eager to make a sale.

Posted in: Blog, Well-Armed Consumer

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