US auto sales remained red hot in November

Purchases remained above an annualized 18 million units for a record-setting third consecutive month. Enhanced incentives, a solid labour market and significant replacement demand have combined to lift year-to-date sales above the previous annual peak of 17.35 million set in 2000. 

Purchases are expected to continue to advance over the next several years, as stronger economic growth lifts income gains and prompts more households to replace their aging vehicles. The average age of the U.S. vehicle fleet continues to move higher and will likely approach 12 years before the end of the decade. At the end of 2014, the average age of the U.S. fleet was a record 11.5 years. 

Record vehicle sales in the United States and throughout North America have enabled the auto industry to remain a bright star amid a sluggish overall manufacturing environment. So far this year, auto industry output (vehicles and parts) has posted a double-digit gain, more than five times the growth of overall U.S. industrial activity.