Stock market, low interest rates, vehicle incentives expected to drive car sales up
Two extra selling days in November and Black Friday deals are expected to make
November 2016 the best November for car sales since 2001.
Kelley Blue Book analysts expect new-vehicle sales to hit 1.37 million for a 4 percent increase over last year. Automakers report November sales Dec. 1.
“They started very early with Black Friday promotions,” said Michelle Krebs, senior auto analyst for Autotrader.com.
Edmunds.com analysts expect a smaller increase of 2.7 percent this November over last, with 1.32 million sales.
“From the start of November, we have seen auto sales be pretty strong,” said Jessica Caldwell, senior analyst for Edmunds.
The record levels in the stock market, low interest rates and automakers’ incentives on vehicles make consumers want to buy.
“Now is a good time for people to feel OK about buying a car,” Caldwell said.
Read more about the situation in Saturday's Vindicator or on Vindy.com.