Autosales data due tomorrow
TrueCar reports that rebates and financing deals sparked a 6% rise in autosales in November compared to a year earlier.
Bloomberg's consensus estimate for November sales hit 18.2 million (annualized) in November.
That's a great sign for the overall economy as consumers continue to gain confidence and increase spending. However, one warning is that sales may have been simply pulled forward from December, which is traditionally a high time for auto sales.
We'll have live reports on auto sales data tomorrow. GM is expected to show a 2.9% increase in the month while Ford sales are forecast to rise 3.2%.
The all-time record for annual sales was 17.4 million in 2000. That will likely be broken this year.