Barclays analysts say that November auto sales in the U.S. held above 12 million vehicles on a yearly basis, a gain of about 10 percent from a year earlier, boosted by a slow return in consumer demand and month-end discounts.
November auto sales, a first peek into consumer behavior at the holiday shopping season, are due to be released soon.
Barclays expects sales to reach about a 12.1 million vehicle annualized rate, down from October's 12.2 million sales rate, but strong enough to indicate that the consumer is coming back, especially in the richer and higher-quality credit segments.
Ford Motor Co. and Hyundai Motor Co. are projected to have the biggest sales jumps, continuing a trend that has seen the two firms take share from rivals in 2010.
Analysts say that the last weekend of November sales were pushed up by Thanksgiving holiday deals sponsored by individual dealers and manufacturers, including Nissan Motor Co. and Toyota Motor Corp.
An analyst at auto sales tracking and shopping service Edwards, Jessica Caldwell, says that the market is in “a slow recovery pattern.” [via autonews - sub. required]