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Auto Sales Reach a Record High this Month

Thanks to the special year-end deals that carmakers and dealerships are pushing, auto sales have already hit the highest level of the year. This is according to Edmunds.com.

The online auto research firm estimates the pace of sales for the month will be 18.3 million vehicles. That would be the highest monthly sales pace in 2015. It would also mark three straight months where the sales rate topped 18 million vehicles, something that has never happened in the U.S..

“Since 2010, November has delivered one of the three best SAARs in each year, and last year, Thanksgiving weekend accounted for twice as many sales as any other weekend in November. We expect to see both trends continue this year,” said Jessica Caldwell, director of industry analysis at Edmunds.com.

The strong pace of sales has been widely anticipated due to a combination of factors including low unemployment, strong consumer confidence and cheap financing. But November sales are getting an extra boost from year-end promotions offering buyers big discounts and/or low monthly payments.

Read more here.