REUTERS/Carlos Barria/File Photo Acquire Licensing RightsNov 22 (Reuters) - New vehicle sales in the United States are expected to rise in November, a report from industry consultants showed on Wednesday, as demand for the latest models remains strong and inventories improve.
U.S. new vehicle sales, including retail and non-retail transactions, are estimated to reach 1,236,000 units in November, a 10.2% jump from a year earlier, according to the joint forecast report by J.D.
"Sales growth is being enabled by improving vehicle availability," said Thomas King, president of the data and analytics division at J.D.
Inventory pile-up, however, led to a 1.9% year-on-year decline in transaction prices with an average price of new retail vehicles at $45,332.
Power and GlobalData have also raised the annual forecast for global light-vehicle sales to 89.3 million units, up 10% from last year, on strength in China demand.
Persons:
Carlos Barria, J.D ., Thomas King, J.D, Jeff Schuster, Ananta Agarwal, Shweta Agarwal
Organizations:
REUTERS, J.D, Thomson
Locations:
Port of Richmond, San Francisco , California, United States, ., China, Bengaluru