US car sales limp into November
By Joseph Toppe
15:43, 1 December 2021
Vehicle inventory and US auto sales in November are expected to be slightly better than October, but are still down considerably from the same month last year.
Preliminary data compiled by Atlanta-based global automotive business Cox Automotive from October shows that new-vehicle sales are predicted to add around 4,000 units – or 0.4% – to reach 1.05 million, while volumes are also forecasted to fall by over 12% – or nearly 150,000 units – from the previous year.
According to the press release, supply-chain disruptions and the well-documented microchip shortages have had an enormous impact on both consumers and dealers.
Charlie Chesbrough, senior director, supply chain management at Cox Automotive, said: “The market is stuck in low gear.
“We believe there are potential buyers out there, but many are waiting on the sidelines, put off by limited selection and high prices.”
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November sales: a small uptick from last month
As outlined by the Cox research, new vehicle sales slowed as inventory woes brought on by the Covid-19 pandemic persisted throughout the year.
November’s seasonally adjusted annual rate (SAAR) of sales is estimated to close at nearly 13.4 million, down 16% from last year when the volume of sales was higher at 15.9 million.
However, the sales volume is predicted to improve slightly from October, going up less than one percent to reach 1.05 million.
Driving on: Cox forecasts for the next few years
Cox Automotive believe microchips will eventually become more available and supply-chain disruptions will also be cleared.
However, researchers at the company suggested recovery could take two or three years as dealer inventories are replenished to just 70% of the pre-pandemic levels.