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November is expected to be another strong month for U.S. auto sales, despite purchases of new cars and trucks dipping slightly from last month, according to analysts' predictions, The Detroit News reported.
Industry sales for the month are higher than last year, a sign the marketplace is stabilizing and demand for car and trucks is returning.
Edmunds.com, an online automotive research company, forecasts new car and light truck sales will rise to 865,550 in November, up 17 percent from a year ago, but down 8.1 percent from October.
Pricing firm TrueCar.com expects a similar increase, with sales hitting 868,283, up 16 percent from November 2009, but down 9 percent from last month.
Retail sales — purchases made by individuals, not fleets — are also expected to be up this month from last year, but like elsewhere in the industry, will be down when compared to October.
The seasonally adjusted annualized rate is expected to hit 12.2 million vehicles for November, according to these forecasts.
"Seasonal fluctuations notwithstanding, we're seeing some stability and consistency in the marketplace for the first time," said Jessica Caldwell, a senior analyst at Edmunds.com.
"The automakers have realized they can achieve profitability at this level of sales, and they seem to be settling into that reality," she said.
Detroit's Big Three, staying in line with the industry, also are expected to post sales gains in November compared to a year ago.
Ford Motor Co. is expected to make the largest jump, selling 149,900 units in November, up 25.6 percent from a year ago, and increasing its market share to 17.3 percent for the month, Edmunds.com predicts.
General Motors Co. also is expected to increase sales to 167,900 in November, up 11.5 percent from a year ago, but down 8.5 percent from October, according to Edmunds. The Detroit automaker's market share will continue to hover around 19 percent.
Chrysler Group LLC, meanwhile, will sell 75,900 vehicles in November, up 22.4 percent from last year, giving it a market share of about 8.8 percent, Edmunds.com forecasts.
With the year nearing a close, J.D. Power & Associates predicts annual sales for the year will likely reach 11.5 million, when all monthly sales are averaged together. That's up from last year when annual sales plummeted to 10.4 million — their lowest point in 40 years — but still far below the industry's peak of 17 million vehicles sold in 2000.
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