November Light Vehicle Sales Reach Seven Year High
U.S. light vehicle sales for November jumped to 16.3 million units on a seasonally adjusted annual rate (SAAR) basis. This makes November the largest sales month on a SAAR basis since February, 2007. Some analysts attribute November’s strong performance to a month-end surge in sales and to the fact that Black Friday landed on the final weekend of the month. Among the automakers, GM remained in the lead with an 18.0% market share year-to-date. The remaining leaders were Ford (15.7%), Toyota (14.4%), Chrysler (11.5%) and Honda (9.8%). Chrysler Y/Y sales increase of 15.8% was the largest of top five manufactures. Fuel prices fell again in November; down 6.1% for regular fuel all grades on a year over year basis, helping to keep pickup truck and SUV sales strong. Lower fuel prices also helped push the YTD combined Detroit Three market share up to 45.2%, its highest level since calendar year 2007. In addition, the YTD share of domestically produced light vehicles (those produced in North America) increased to 78.0%, its highest level since calendar year 2005.
