U.S. Light Vehicle Sales Setting Records

In November, U.S. light vehicle sales were up by 6.1% over the year to 18.1 million units (seasonally adjusted annualized rate). This marked the first time on record that the pace auto sales surpassed 18 million units for three consecutive months. On a per unit volume basis, 1.31 million light vehicles were sold last month, an increase of 1.5% over year ago levels and the highest November volume in 14 years.

U.S. auto sales continue to be dominated by demand for light trucks, SUV and crossover utility vehicles (CUVs). Sales increased by 14.9% over the year in November to 10.5 million units and accounted for 58.3% of the light vehicle sales mix. This was the highest share since reaching 61% in July 2005. The average share of light truck sales going back to 1996 is 50.7%.

• Sales of domestic trucks increased by 8.3% over the year to 8.4 million units
• Foreign light truck sales, which account for 20% of the U.S. light truck market, surged by 52.3% to 2.1 million units
• Compared with October, sales of pick-ups, SUVs and CUVs edged up by 1.5%.

Total passenger car sales, including foreign and domestic models, declined by 4.2% over the year to 7.5 million units.

• Sales of domestic autos were down by 5.5% over the year to 5.6 million units
• Sales of foreign passenger cars slipped by 0.2% to 2.0 million units
• Compared with October, total passenger car sales fell by 2.8%

Sales of medium-heavy trucks used by businesses for hauling freight and making deliveries, rose by 6.9% over the year in November to 447,000 vehicles. 

With one month remaining in this year, vehicle sales are poised to reach 17.8 million units, eclipsing the previous sales record set in 2000. November sales were buoyed by Black Friday close out specials and strong dealer incentives throughout the month. Overall demand continues to be supported by relatively easy credit conditions, employment gains and generally upbeat economic news, while low fuel prices are supporting the continuing popularity of pickup trucks and SUVs. 

Source:  www.bea.gov