Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

According to a report by industry consultant and car shopping website Edmunds on Wednesday, 1 422 212 new automobiles and trucks are expected to be sold in the United States during the current month, boosted by Black Friday deals, which would bring the Seasonally Adjusted Annual Rate (SAAR) up to 17.8 million vehicles.

Novembers forecast represents a 3.5% increase compared to sales in November 2016 and a 5.3% increase compared to October this year.

“Usually, the first two weeks of the month are slow, especially before a holiday”, Jessica Caldwell, Edmunds executive director of industry analysis was quoted as saying.

“But this year retailers are pushing the Black Friday bargains throughout the entire month of November, and its putting everyone in a buying mood. It also doesnt hurt that automakers are starting to really sweeten the deals to clear out lingering 2017s and end this year on a high note”, she added.

Sales by General Motors are projected to reach 257 081 vehicles in November up from 252 644 during the same month a year earlier and up from 252 813 in October.

At the same time, Ford is expected to sell 205 986 vehicles during the current month, which would represent a 4.9% surge from November 2016 and a 3.1% surge compared to October this year.

According to Edmunds, Honda may register the largest year-on-year increase in November sales, 12%, to a total of 137 662 vehicles.

Meanwhile, Toyota is projected to report the largest month-over-month increase in November sales, 11%, to a total of 209 095 vehicles.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • Forex Market: AUD/JPY trading forecast for November 9thForex Market: AUD/JPY trading forecast for November 9th Friday’s trade saw AUD/JPY within the range of 86.43-87.42. The pair closed at 86.81, down 0.18% on a daily basis. It has been the fifth drop in the past ten trading days. In weekly terms, AUD/JPY gained 0.80%, following a 1.73% slump in the […]
  • Natural gas extends gains on warm weather outlookNatural gas extends gains on warm weather outlook Natural gas futures rose for a fifth day in six as weather forecasters continued to predict warmer-than-average temperatures across key consuming areas, thus boosting the power plant fuels demand prospects.On the New York Mercantile […]
  • Commodities trading outlook: gold, silver and copper futuresCommodities trading outlook: gold, silver and copper futures Gold futures rose on Friday, trimming a weekly drop, as the European Union followed the United States in imposing further sanctions on the Russian Federation, which urged market players to look for safe haven assets, such as the precious […]
  • Grain futures mixed, soybeans decline on favorable weather in South AmericaGrain futures mixed, soybeans decline on favorable weather in South America Grain futures were mixed on Monday with wheat and corn advancing while soybeans declined as weather forecasts predicted favorable weather in Brazil and Argentina to aid crop developing.On the Chicago Board of Trade, soybeans futures for […]
  • US stock futures slightly low after mixed economic dataUS stock futures slightly low after mixed economic data US stock futures slightly declined today and remained unchanged after mixed economic data. Reports on employment change, trade balance and initial job claims were issued today. Employment for month of June has gained more than predictions […]
  • USD/NOK trades within striking distance of 2 1/2-week highUSD/NOK trades within striking distance of 2 1/2-week high The USD/NOK currency pair traded not far from a fresh 2 1/2-week high of 10.7362 on Wednesday ahead of a string of macro data that may provide more clues over the US interest rate cut trajectory.Today’s focus will likely be on US job […]