November US auto sales to show 5 percent rise: JD Power, LMC – Reuters
DETROIT November U.S. auto sales will be up 5 percent from a year earlier, making it possible that 2016 will top last year’s record high, industry consultants J.D. Power and LMC Automotive said on Wednesday.
The consultants estimated industry sales in the United States this month at 1.39 million vehicles, up from 1.32 million, helped by two more selling days than a year earlier. The seasonally adjusted annualized rate will be 17.9 million vehicles, a slide from 18 million vehicles last year.
Autodata Corp, another industry consultant, says November 2015 annualized sales were at a rate of 18.25 million, which would suggest a steeper decline this month than J.D. Power and LMC forecast.
Automakers report November U.S. sales on Dec. 1. The monthly data is viewed as an early indicator of consumer spending.
The manufacturers began their holiday sales promotions this month, hoping to cut bulging inventories of unsold cars and trucks.
(Reporting by Bernie Woodall; Editing by Lisa Von Ahn and Jeffrey Benkoe)