New-vehicle retail sales are experiencing further recovery and strength through the first half of November, according to a monthly sales forecast report by J.D. Power and Associates
November new-vehicle retail sales are projected to come in at 791,900 units, which represents a seasonally adjusted annualized rate (SAAR) of 11.3 million units—the highest monthly selling rate in three and a half years.
"Retail light-vehicle sales in November are outperforming expectations on a month-to-date basis, providing good news as 2011 comes to a close and the focus starts to shift to 2012," said John Humphrey, senior vice president of global automotive operations at J.D. Power and Associates
11.3M SAAR in a country with 250M vehicles is really pathetic. If Amerika were a free and prosperous country, the SAAR would be somewhere near 25M.
ReplyDeleteWith interest rates this low and the banks beginning to lend, this is certainly not a surprising trend.
ReplyDeleteI don't understand why you always say this stuff will confuse Keynesians. They have always thought that their stimulus packages would cause this "recovery". They just don't understand its long-term consequences.
ReplyDeleteAnon 10:23,
ReplyDeleteHow much do you know about modern macro-theory?
Granted, I am certainly not an expert, but I do know a thing or two about IS-LM models, money velocity and AD-AS models to know that I don't have to be an "olfactory scientist" to be able to identify shit when I smell i, no matter how much Keynesian 'Fabreze' is sprayed upon it.