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U.S. vehicle sales fall again in November
U.S. vehicle sales dropped for the second straight month in November. On a sequential basis, vehicle sales dropped 4.5 percent to 15.6 million units. November’s reading is a bit below consensus expectations of a decline to 15.8 million.
Unadjusted volumes dropped 15.4 percent year-on-year to 1.19 million. Nevertheless, it is not an apples-to-apples comparison, since last November had recorded an extra weekend and 26 selling days, as compared with 23 this year.
The fall in November sales was widespread across passenger vehicles and light trucks, which recorded a fall of 2.6 percent and 5 percent, respectively. The latter accounted for 76.6 percent of the monthly sales tally, down 1.7 percentage points from October.