ERJ staff report (DS)
Westlake Village, California -- The US new-vehicle retail selling rate returned to a healthy level in November after being negatively impacted by Hurricane Sandy in October, according to a monthly sales forecast developed by J.D. Power and Associates and LMC Automotive.
November new-vehicle retail sales are projected to come in at 931,900 units, which represent a seasonally adjusted annualised rate (SAAR) of 12.9 million units. November is expected to reflect the highest retail selling rate since January 2008. Retail transactions are the most accurate measurement of true underlying consumer demand for new vehicles.
Total light-vehicle sales in November are expected to increase 12 percent from November 2011, with volume at 1,113,500 units. Fleet sales are expected to hold steady below a 17 percent share of total sales, which is the same level as October but lower than the 18 percent share last November.
LMC Automotive is maintaining the 2012 forecast for total light-vehicle sales in the United States at 14.4 million units and the forecast for retail sales at 11.7 million units. While the forecast still rounds to the same numbers as it did in October, the overall outlook is more favourable.
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Press release from LMC / J D Power