For the first time ever, the US auto market recorded a third consecutive month at an annual pace above 18M units in November. It is highly likely that 2015 will finish as the highest volume year ever, on pace to eclipse the 17.35M light vehicles sold in 2000.
All major brands continued to show year-over-year gains except VW. The largest gain was Hyundai’s 21.5% increase over November 2014. Light trucks now represent nearly 60% of vehicle sales, driven by a 23.6% increase in CUV sales over last November.
The most striking evidence of November’s continued strong volume and demand was this: Daily sales rate aside, the total volume for November 2015 was higher than November 2014 even with two fewer selling days (23 days this year vs. 25 in 2014)
Should December come in at a relatively “do-able” 16.8M SAAR pace, 2015 will break a 15-year record as the strongest year of automotive sales in US history.
Your ESA Car Keys recap follows.
NOVEMBER 2015 HIGHLIGHTS
Wards Auto and NADA MarketBeat
- November SAAR: 18.1M units
- November Units: 1.316M vehicles sold
- Change: DSR* +10.5% | Volume +1.7% vs November 2014
- Big Gainers: Hyundai +21.5%, Nissan +12.8%, Toyota +12.4%, Fiat-Chrysler +11.7%, Subaru +10.6%, GM +10.4%, Kia +10.2%, BMW and Daimler were both +10.0%
- Laggards: VW/Audi -8.8% (VW brand -18.2%, Audi +9.1%)
*DSR: Daily Sales Rate. A more reliable indicator of the pace of auto sales which accounts for actual car-selling days per month.
*SAAR: Seasonally-Adjusted Annual Sales Rate.
SOURCES: NADA MarketBeat, Wards Automotive, Automotive News.
Dave Eckstein is a Partner in the firm ESA & Company. He specializes in highly profitable market share growth for local businesses and gets a kick out of demonstrating a declining cost of customer acquisition. He plays baseball, but isn't that Dave Eckstein.