Time for a little bubbly? Analysts say car sales get a Black Friday boost
It could be time to crack open a modestly-priced bottle of champagne.
Analysts say, like the recent good news about retail purchases, November auto sales "may have run at the fastest pace in more than two years."
From Bloomberg News:
Light-vehicle deliveries in November, to be released Thursday, may have run at a 13.4 million seasonally adjusted annual rate, the average of 14 analysts surveyed by Bloomberg. That would top the 12.3 million pace of a year earlier and October's 13.3 million rate, which was the best month since sales were helped by "cash for clunkers" in August 2009... "November was a good retail environment for consumers overall," Erich Merkle, Ford's sales analyst, said . Consumers have been "sitting on the sidelines for quite some time. Black Friday provided that reason to get out there."
The head of Toyota's U.S. sales unit said there's a lot of pent up demand among consumers, "it's starting to push industry sales regardless of whether the economy is flat or going up."