The U.S. auto sales in November increased by 15% to 1.14 million. The top brands include BMW, American Honda and Volkswagen Group. This figure has surpassed analysts’ predictions, placing the industry on track for an optimistic run as it enters the new year. The annualized industry sales rate, which was adjusted for seasonal trends, sped up to 15.56 million -- its highest rate since 15.59 million in January 2008.
Analysts predict the sales rate in November to recover from the 14.3 million rate in October, which is when Hurricane Sandy affected deliveries in the later part of the month. The sales pace was 13.6 million in November 2011. According to the average estimate from 10 analysts asked by Bloomberg, the U.S. light-vehicle sales were predicted to increase 12% in November to 1.11 million units.
From January to November, the industry demand has presently gone up by 14% to 13.14 million units. It is on pace to achieve a third straight annual increase of 10% or higher. Analysts predict that U.S. sales will reach around 14.4 million in 2012 and exceed 15 million units in 2013. Jenny Lin, Ford's senior U.S. economist, said that this industry is becoming stronger “even without the Sandy effect.” She explained that there’s a high replacement demand since it has an aging vehicle fleet.
American Honda, which has totally recovered from the disaster in Japan last March and has experienced gains due to the new models, established a November sales record of 116,580, a 39% increase. Honda division volume increased by 41% to 104,334, while Acura achieved a 24% increase to 12,246 units.
In a statement, John Mendel, American Honda executive vice president of sales, said that the company has overtaken sales records established pre-recession, which he refers to as a “true sign” of its business recovery. He added that the new Accord is on a strong momentum and with the new Civic starting to arrive in dealerships, the company expects Honda to have a “strong finish” for this year.