US auto sales strong in November
YOUNGSTOWN — U.S. auto sales in November maintained their strength, with General Motors exceeding analyst’s expectations for the month.
Total auto sales for 2018 are on track to exceed 2017’s sales and pass 17 million sales for the fourth straight year, which would be a record streak.
Kelley Blue Book reported the estimated average transaction price for light vehicles in the U.S. was $36,978 in November, up 2 percent year-over-year. KBB noted much of the growth took place in the pickup truck and mid-to-full-size SUV segments.
Jonathan Smoke, the chief economist at Cox Automotive, attributed the sustained strength to the stability of the U.S. economy.
“Consumers continue to spend, which is supporting economic growth, and low unemployment is driving wage increases. Consumer confidence, while down a bit in November, remains very strong,” Smoke said.
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