TrueCar Sees November Auto Sales Up 3.6% After Black Friday Deals

By Markets MarketWatch Pulse

TrueCar Inc. said Tuesday it expect November new vehicle sales to climb 3.6% from a year ago to reach 1.37 million units, boosted by Black Friday deals and two extra selling days than in the year-earlier period. The online marketplace for new cars said it expects November's seasonally adjusted annualized rate for total light vehicle sales to come to 17.66 million units, versus 18.25 million units a year ago. "The early launch of Black Friday sales events is helping offset declines in fleet sales this month, as the retail sales environment remains strong for new car sales," said Eric Lyman, TrueCar's chief industry analyst, in a statement. "Incentives are also down slightly as automakers begin to address supply side imbalances with planned reductions in vehicle production." Among individual car makers, Subaru posted the biggest gains in the month at 12.9%, followed by General Motors Corp. , up 11.2%. TrueCar shares up 30% in the year so far, while the S&P 500 has gained 7.7%.

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