Industry Sales: "new normal"

[rickaren]

Industry sales improve slightly as ‘new normal’ takes hold

Posted on Wednesday, December 2nd, 2009 at 1:22 PM EST. (Employee News)

U.S. auto sales increased by less than 1 percent in November for the industry’s first year-over-year gain without government incentives since October 2007, the Automotive News reported.

The slight sales increase—35 units—accompanied a seasonally adjusted annual sales rate of 10.5 million units, in line with the industry’s “new normal” after a four-year decline and this summer’s cash-for-clunkers incentive, the trade paper said. U.S. light-vehicle sales averaged 16.4 million units annually this decade through last year, the Automotive News noted. In an accelerated decline, sales fell to 13.2 million units last year, reaching quarter-century lows by November 2008, the paper said. That means today’s comparisons are being measured against the worst November in decades, it reported.

October’s 11.2 million SAAR reflected the first month this year in which seasonally adjusted demand passed 10 million units, not including the July and August boosts from the federal government’s cash-for-clunkers program, the paper said. August’s U.S. sales increased 1 percent, the story said. (Automotive News)