Auto Sales Reach Highest Level Since 2007
Auto sales in the United States grew in November to the highest rate since February 2007, Bloomberg News reported.
The annualized sales rate, adjusted for inflation, was 16.4 million units, Bloomberg said, citing Autodata Corp.
Automakers made a major end-of-year sales push with their biggest inventory in eight years, Bloomberg said. They also had aggressive incentives and marketing campaigns for Black Friday, the major shopping day that follows Thanksgiving.
“Dealers were seeing the opportunity to piggyback on this shopping phenomenon,” Dave Winslow, chief digital strategist at Dealer.com, told Bloomberg.
General Motors Co. and Chrysler Group led year-over-year sales gains, with a 16% increase at GM and 14% at Chrysler. Toyota Motor Corp. and Nissan Motor Co. followed with 10% increases.
Truck sales in October, the most recent month for which WardsAuto.com has data, grew 15.6%, the second monthly increase.
