US Retail Sales Post Double-Digit Climb in November 2011

US retail light-vehicle sales in November rose 14.8% from a year ago to 818,609 units, which translates to a seasonally adjusted selling pace (SAAR) of 11.7 million units, based on analysis by J.D. Power’s Power Information Network® (PIN) and LMC Automotive. The sales pace in November was much stronger than the 9.7 million-unit pace in November 2010 and also surpassed October’s retail sales rate.

Fleet sales in November were less than 175,000 units and down 10.6% from a year ago. The fleet SAAR of 1.9 million units receded from 2.5 million units in November 2010.

A few more PIN highlights:

  • Real-time transaction data from PIN indicates that the average new-vehicle transaction price for November was 3.5% higher than in November 2010, but was down nearly one percentage point (-0.8%) from last month (not seasonally adjusted).
  • The average cash rebate was down 11.1% from November 2010, but was up 13.3% from October 2011.
  • Retail cash sales penetration was up 1.0 percentage points from last November, while lease sales penetration edged down a slight 0.1 percentage point. Retail finance sales penetration slipped by nearly one percentage point from last November
  • The average retail turn rate* for November was 44 days, which was 7 days shorter than last November’s 51-day turn rate. However, the turn rate was one day longer than in October 2011 (43 days).

*PIN’s retail turn rate is the average number of days that a vehicle remains on a retailer’s lot before it is sold.

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