Vehicle sales get their due this Black Friday
Posted on Tuesday, November 25, 2014 at 8:00:21 AM
Black Friday isn't just for the big box stores. In fact, vehicle dealerships will have plenty of customers the day after Thanksgiving as well, as several industry experts predict a rise in sales this time of year.
According to Edmunds.com, more than 1.2 million new cars and trucks are expected to be sold this November. Compared to last November, that is good for a 1.6 percent increase.
"Car sales will remain elevated in November in large part because of Black Friday," explained Edmunds.com senior analyst Jessica Caldwell. "In recent years both car shoppers and car dealers have turned toward Black Friday as an opportunity to dive into the holiday shopping season. This is a good example of how the auto industry continues to evolve to become more like the rest of the retail market."
According to Jesse Toprak, chief analyst for Cars.com, another factor will help sales this November, in addition to Black Friday: lower gas prices. He noted that November has seen fuel costs drop, helping buyers acquire affordable auto financing, discounts and leasing deals.
Overall, November is shaping up to be a strong month for vehicle sales across the country.