Car sales for November came in at a higher-than-expected 15.54 million units, which represents a 8.7% increase from October and a 14.7% increase from November of last year (see chart). Here are some other highlights:
1. November car sales were the highest for any month since January 2008, and the highest for the month of November since 2007.
2. On a year-over-year basis, the 14.7% increase in November car sales marked the 27th straight month of an annual sales increase starting back in September of 2010.
3. Year-to-date through November, car sales this year are running 14% ahead of last year.
4. Auto sales for Honda, Hyundai, Nissan and BMW set new all-time record highs for the month of November.
5. Compared to last year, sales in November were especially strong for foreign automakers Subaru (59.7%), Honda (38.9%), BMW (38.7%) and VW (28.2%). Chrysler led the Big Three with a 14.4% sales gain, its best November sales since 2007.
Related: Gallup reported today that Americans’ economic confidence was higher in the month of November than in any month since the polling organization started tracking daily economic confidence in January 2008. That might help explain the strong car sales for November.