NADA: November Sales Beat Expectations, Highest SAAR Since May 2021
The National Automobile Dealers Association reported the seasonally adjusted annual rate (SAAR) for 2024 U.S. vehicle sales hit its highest mark since May 2021 after dealers outperformed expectations in November.
U.S. dealers sold 1.36 million new units in November, a 10.1% year-over-year improvement. That pushed November’s SAAR to 16.5 million units, a 6.7% increase from November 2023 and the highest monthly SAAR since May 2021.
In a release announcing November’s returns, NADA Chief Economist Patrick Manzi said his team’s 2024 sales forecast is well within reach.
“For 2024 as a whole, we expect that new light-vehicle sales will hit our forecast of 15.7 million units and will likely exceed it if November’s sales momentum carries into December,” Manzi wrote.
