November auto sales could rise 4 percent partly due to Black Friday deals, experts say. Industry analysts predicted a jump in car sales on Black Friday, The Car Connection reported.
Auto sales could increase 4 percent this month compared to October, according to predictions from Kelley Blue Book. American car dealers could sell 1.19 million vehicles for a 3.6 percent jump over last November.
An increase in sales after an already strong year for the auto industry is quite a feat. Car sales last November were boosted by motorists who had to replace vehicles damaged in Superstorm Sandy.
The biggest sales will be seen in the truck and compact crossover segments, Kelley Blue Book said. Truck sales this month will increase 8.1 percent year-over-year, while compact crossover sales should jump as much as 23.6 percent over November 2012.
"Sales in November tend to be heavily skewed toward the end of the month because of Black Friday sales events ... so sales could surpass current expectations if the available deals are especially enticing," Kelley Blue Book senior analyst Alec Gutierrez told FoxBusiness.
From prepaid credit cards to 0 percent financing, major automakers like Ford, Hyundai and General Motors all had Black Friday deals working in their favor.
"They are really going after it aggressively," Dave Winslow, chief digital strategist for Dealer.com, was quoted as saying by USA Today.
Ford is offering customers up to $1,000 on a prepaid MasterCard, which can be used to pay for a new vehicle or for general holiday shopping. The deal runs through Monday, Dec. 2, though the time the deal ends will vary depending on the dealership.
Announcing a "Black Friday Week," Hyundai has special deals like 0 percent financing on four Elantra models, while General Motors is offering GMC trucks for $5,000 less than the usual starting price.
Edmunds.com has predicted an industry-wide gain of 4.7 percent for November sales at a rate of 15.7 million vehicles, with Chrysler in line to report the biggest gain at 10 percent.
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