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November auto sales lead a record 2015

Posted on Wednesday, December 2, 2015 at 11:19:23 AM

It's been a great year for the U.S. auto industry. Late last month, Edmunds released its new car sales forecast, projecting that 1.33 million new cars and trucks would be sold in November. That equates to an estimated seasonally adjusted annual rate of 18.3 million. Both the SAAR and sales volume, while still estimates, are potentially the largest ever recorded for the month of November, besting the 1.32 million new cars sold and accompanying 17.7 SAAR seen in November 2001.

"Not even a decade ago, November was a notoriously slow sales month, and it typically ranked as the third worst month for sales in the calendar year," said Jessica Caldwell, Edmunds' director of industry analysis. "Since 2010, November has delivered one of the three best SAARs in each year, and last year, Thanksgiving weekend accounted for twice as many sales as any other weekend in November. We expect to see both trends continue."

As buyers seek auto financing for new vehicles, sales could very well make for a record year. According to Reuters, most industry analysts believe 2015 will break the record of 17.35 million vehicles sold in 2000. If there were any lingering doubts about the auto industry's resurgence, the latest numbers may put them to rest.