Automakers are beginning to report their November sales numbers, and it’s not a shock, but the news is not great for them. That could, however, be good news for you.
Ford reports that November auto sales were down 17 percent from one year ago. The company’s Super Duty pickups, midsize SUVs, and Transit vans did reasonably well, but other models saw heavy sales slips.
Hyundai, Mazda, Subaru, and Toyota followed all reporting sales declines from the same month in 2019.
There is some reason to believe the drop might not be as bad as it first appears. Thanks to the timing of the Thanksgiving holiday, this November offered three fewer selling days than November of 2019. J.D. Power estimates that, without adjusting for the limited number of selling days, sales slipped by nearly 15 percent – but once the change is taken into account, the difference could be as little as 3.5 percent.
Adjusted for the reduced number of selling days, Toyota and Hyundai may have both seen slight sales growth from the numbers of one year ago. But, with coronavirus infections spiking in nearly every state, the industry is far from out of the woods.
Which gives a shopper walking onto the sales floor excellent leverage in negotiations. Be aware that shopping for a car during a pandemic is a different experience than in normal times – but this remains a good time to buy. Also left to be seen is if the slowdown will spur manufacturers to boost incentives after the first of the year.
