WOODCLIFF LAKE, N.J. (12/5/13)--Vehicle sales were up in November, boosted by the end of the partial federal government shutdown and the start of the holiday shopping season.
A seasonally adjusted annualized measure of sales rose last month by 1.2 million to16.4 millions units, according to the New Jersey-based AutoData Corp.
The increase was more than expected and the highest rate in seven years, according to Moody's analysts, who predict that a total of 15.5 million units will be sold this year (Economy.com Dec. 4).
Some of the increase was attributed to sales delayed by the dysfunction in Washington in October, and the fact that sales initially recorded that month were revised to be included in November's measure. Black Friday sales and manufacturer discounts--especially those offered by Chrysler--also incentivized car buying.
Car and light truck sales rose to 8.1 million and 8.3 million units respectively, on a seasonally adjusted annualized basis. They were both at 7.6 million units in October.
The car makers who saw the biggest increases in sales last month were Chrysler, Honda, Nissan, and Toyota.