Black Friday boost to vehicle sales sets tone for ‘epic’ selling season

black friday

Black Friday weekend helped push new-vehicle sales to their highest level in more than a decade as November shoppers stuffed themselves with cash-back, bonus, financing and other incentives after the Thanksgiving holiday.

Positive economic news and dropping gas prices didn’t hurt, either.

“After healthy Black Friday car sales, experts predict the auto industry’s sales will be the highest monthly sales for November since 2001,” reported the Detroit Free Press online.

And November sales may be just a warm-up for December and beyond, according to industry analysts.

“A lot of things are aligning” for a strong finish to the year, Jesse Toprak, chief analyst at Cars.com told Jim Henry at Forbes online.

“Black Friday has established itself as the start of the final epic selling season of the year, and this year that season has started earlier than ever,” said TrueCar President John Krafcik. “Hard-hitting sales events, great new products, and receptive consumers are driving a 17 million (seasonally adjusted sales rate) in November. That’s terrific for the industry and a positive sign as we look to 2015.”

“November was another very robust month for new-vehicle sales,” said Toprak in a Cars.com press release. “Year-end clearance deals for the 2014 model year vehicles, relatively lower gas prices and an excellent selection of cars and trucks propelled the sales rate to its highest level in a decade.”

General Motors led in unit sales, followed by Ford, Toyota and Fiat Chrysler. But Chrysler sales grew faster than any other manufacturer, rising 20 percent in November.

“Sales of our all-new Chrysler 200 sedan were up a strong 155 percent in November, helping Chrysler achieve its 56th-consecutive month of year-over-year sales gains,” said Reid Bigland, Chrysler’s head of U.S. sales. “In total, we had 11 vehicles last month that set new sales records.”

And yet, the industry was profitable as buyers spent an average of $30,874 per vehicle, or $165 more than the previous record of $30,709 in October, reported The Washington Times.

 

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