New light vehicle sales have been stronger than retail sales in general, and there is some speculation that car and light truck sales could have a negative impact on Black Friday retail sales. Auto dealers have become more tuned in to the Black Friday shopping extravaganza and this weekend’s sales are expected to be strong again.
Analysts at TrueCar expect November sales to rise by 3.9% to a record 1.35 million for the month. The analysts at Kelley Blue Book (KBB) expect November monthly sales to be flat with last year, but that is not as tepid as it sounds. There were two more sales days last November.
In 2014, the Thanksgiving weekend produced double the sales of any other weekend in November according to a report from Edmunds.com, continuing a trend in which November has moved from being the third-worst month for new car sales to being among the best.
Among the offers to lure buyers, General Motors Co. (NYSE: GM) is offering up to $8,000 cash back on selected 2015 Buick models and a lease deal for just $175 down and $175 a month for 2 years on a 2015 Encore compact SUV for customers who currently have a lease deal with another automaker.
Ford Motor Co. (NYSE: F) has kicked off its ‘Friends and Neighbors’ program, offering buyers the same discounts usually only available to its suppliers and business partners. The program launched in early November and runs through January 4th.
Fiat Chrysler Automobiles NV (NYSE: FCAU) is offering a financing deal: 0% for 75 months on a 2015 Chrysler 300 or 2016 Chrysler 200, assuming a good credit rating.
KBB is projecting that GM sales will rise 1.9% year-over-year in November to 230,000 units while Ford sales are expected to rise by 0.9% to 188,000 units. Chrysler sales are forecast to rise just 0.1% to 171,000 units, and Toyota Motor Corp. (NYSE: TM) is expected to see a decline of 1.3% to 181,000 units. Hardest hit by falling sales is expected to be Volkswagen AG with sales declining by 9.5% to just 48,000 units.
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