Wards Auto released their estimate of light vehicle sales for November. Wards Auto estimates sales of 14.14 million SAAR in November 2022 (Seasonally Adjusted Annual Rate), down 5.1% from the October sales rate, and up 7.9% from November 2021.
This graph shows light vehicle sales since 2006 from the BEA (blue) and Wards Auto’s estimate for November (red).
The impact of COVID-19 was significant, and April 2020 was the worst month. After April 2020, sales increased, and were close to sales in 2019 (the year before the pandemic). However, sales decreased late last year due to supply issues. It appears the “supply chain bottom” was in September 2021.
Sales in November were below the consensus forecast of 14.9 million SAAR.