New-Car Sales To Drop 1 Percent Year-Over-Year, Record Second Highest November On Record, According To Kelley Blue Book

IRVINE, Calif., Nov. 22, 2017 /PRNewswire/ -- New-vehicle sales are expected to fall 1 percent year-over-year to a total of 1.36 million units in November 2017, resulting in an estimated 17.1 million seasonally adjusted annual rate (SAAR), according to Kelley Blue Book.

"Following two months of more than 18 million SAAR, we project November sales to return to the low 17 million range," said Tim Fleming, analyst for Kelley Blue Book. "The strong numbers from the last two months were influenced by replacement demand in the hurricane-impacted regions of Texas and Florida, which appears to be largely satisfied at this point. Despite the lower SAAR, this will be the second highest November on record, trailing only November 2016, so more than a few sales records could be broken this month."

Key Highlights for Estimated November 2017 Sales Forecast:

• In November, new light-vehicle sales, including fleet, are expected to hit 1,360,000 units, down 1 percent compared to November 2016 and up 0.7 percent from October 2017.
• The seasonally adjusted annual rate (SAAR) for November 2017 is estimated to be 17.1 million, down from 17.6 million in November 2016 and down from 18.0 million in October 2017.
• Retail sales are expected to account for 82.2 percent of volume in November 2017, down from 82.4 percent in November 2016.

After a record year of sales in 2016 and seven consecutive annual increases, Kelley Blue Book's forecast for 2017 calls for sales in the range of 17 and 17.2 million units, which represents a 1.5 to 3 percent decrease from last year.

American Honda to Have Strong Month on Strong Car Lineup, Despite Shift Toward SUVs

For November 2017, Kelley Blue Book anticipates mixed sales results by manufacturer. American Honda is expected to have one of the strongest months and grow volume by 3 percent this month, helped by their strong lineup of cars. Despite the overall consumer shift toward SUVs, Honda's cars are still faring well and are now bolstered by the well-received new Accord.

On the other hand, Hyundai-Kia stands to lose nearly a full point of market share in November 2017, hurt most by the volume competing in car segments that could average nearly 20 percent declines. While Hyundai-Kia's fleet sales are projected to be down 20 percent and explain part of the drops, retail sales of the mid-size Kia Optima and Hyundai Sonata sedans appear particularly hard hit this month, perhaps affected by the recent launches of the new Toyota Camry and Honda Accord.

Nearly All Models in Compact SUV Segment Showing Year-Over-Year Improvement

Compact SUVs are expected to climb nearly 8 percent in November 2017, with nearly all models in the segment showing year-over-year improvement. The Toyota RAV4 and all-new Jeep Compass could post some of the strongest gains. The top-selling segment in the industry continues to become even more popular, with market share growing by a full point so far this year.

Mid-size cars will struggle once again this month, despite redesigns of the Toyota Camry and Honda Accord. The remainder of the segment is likely to decline into the foreseeable future, as consumers increasingly opt for crossovers over sedans.

There are 25 sales days in November 2017 and November 2016.  All percentages are based on raw volume, not daily selling rate.  

To discuss this topic, or any other automotive-related information, with a Kelley Blue Book analyst on-camera via the company's on-site studio, please contact a member of the Public Relations team to schedule an interview.

For more information and news from Kelley Blue Book's KBB.com, visit www.kbb.com/media/, follow us on Twitter at www.twitter.com/kelleybluebook (or @kelleybluebook), like our page on Facebook at www.facebook.com/kbb, follow us on Instagram at https://www.instagram.com/kbb_com/ (or @kbb_com), and get updates on Google+ at https://plus.google.com/+kbb.

About Kelley Blue Book (www.kbb.com)
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry. Each week the company provides the most market-reflective values in the industry on its top-rated website KBB.com, including its famous Blue Book® Trade-In Values and Fair Purchase Price, which reports what others are paying for new and used cars this week. The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies, and governmental agencies. Kelley Blue Book Co., Inc. is a Cox Automotive™ brand.

About Cox Automotive
Cox Automotive Inc. is transforming the way the world buys, sells and owns cars with industry-leading digital marketing, software, financial, wholesale and e-commerce solutions for consumers, dealers, manufacturers and the overall automotive ecosystem worldwide. Committed to open choice and dedicated to strong partnerships, the Cox Automotive family includes Autotrader®, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, vAuto®, Xtime® and a host of other brands. The global company has 32,000-plus team members in more than 200 locations and is partner to more than 40,000 auto dealers, as well as most major automobile manufacturers, while engaging U.S. consumer car buyers with the most recognized media brands in the industry. Cox Automotive is a subsidiary of Cox Enterprises Inc., an Atlanta-based company with revenues exceeding $20 billion and approximately 60,000 employees. Cox Enterprises' other major operating subsidiaries include Cox Communications and Cox Media Group. For more information about Cox Automotive, visit www.coxautoinc.com.

SOURCE Kelley Blue Book