November auto sales likely to show drop from October, but improvement over November 2021: Deutsche Bank
Deutsche Bank analyst Emmanuel Rosner said in a note Wednesday he expects November U.S. light-vehicle seasonally adjusted annual rate to come in around 14.1 million vehicles, down from 15.3 million in October but still "much improved" from November 2021's 13.1 million, when supply-chain shortages plagued sales. Total sales could be up about 10% year-on-year, including retail unit sales up about 1% on-year and fleet sales up 82% from a year ago, Rosner said. "Looking ahead, we continue to expect sales to recover as production cadence improves, and forecast 2022 sales of 13.9m units, which still assumes high (14 million) SAAR in December," the analyst said. Of the larger publicly traded U.S. auto makers, only Ford Motor Co. is slated to report November auto sales likely this week, with General Motors Co. , Tesla Inc. , and Rivian Automotive Inc. reporting fourth-quarter sales in early January.
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