Wards Auto released their estimate of light vehicle sales for November. Wards Auto estimates sales of 12.86 million SAAR in November 2021 (Seasonally Adjusted Annual Rate), down 1.0% from the October sales rate, and down 19.0% from November 2020.
This was below the consensus estimate of 13.2 million SAAR.
Click on graph for larger image.
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 earlier this year due to supply issues. It appears the “supply chain bottom” was in September, but sales in November were disappointing.