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Automotive Sales Continue To Head Higher According To Industry Analysts

Dec 09, 2015

According to the National Automobile Dealers Association (NADA), the Seasonally Adjusted Annual Rate (SAAR) of automotive sales topped 18 million vehicles for the third month in a row in November, driven partially by an increased in manufacturer incentives. NADA is predicting 17.3 million new vehicle sales in 2015 and 17.7 million in 2016.In other automotive sales news, reported that more than 1.3 million vehicles were sold in November, up 2.5% from November 2014.

Additionally, J.D. Power reported that the average new vehicle transaction price in November 2015 was $31,498, just $21 below the record high set in December 2014. In order to manage the higher transaction prices, customers are increasingly opting for leases and long-term loans with term lengths of 72 months and longer according to J.D. Power. The industry is on track to set new records for both types of sales for the full year 2015. Lease penetration has reached 27.7% through mid-November, an increase of 2% from the full year 2014. Long-term loan penetration has increased to 34.4% over the same time period.