US Automakers Aim To Cut Inventories With Black Friday

Posted: Nov 23 2016, 10:48pm CST | by , in News | Black Friday 2018

 

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US Automakers Aim to Cut Inventories with Black Friday
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  • US automakers are taking advantage of Black Friday to sell more cars

Automakers around the country are trying to boost their holiday sales with new promotions

It seems automakers from all over America are coming up with new sale promotions. These promotions are a bid to ramp up holiday sales over the Black Friday weekend.

Black Friday promotions are also a way for automakers to clear out the extra catalogs of unsold cars. Black Friday also provides a way to dispel investor doubts when it comes to consumer demand in the auto industry.

In terms of US sales the Thanksgiving weekend is a major deal since it generates 25% of the total November sales for cars, according to AutomotiveNews.

Automakers in Detroit especially need to avail the Black Friday weekend to their advantage since they need to push sales for a strong year-end total.

Currently automakers in Detroit are loaded with unsold sedans, compact cars and sports cars, since consumer preference has shifted to pickup trucks and SUVs.

All these numbers were revealed in recent report by J.D. Power and LMC Automotive. The report also claims Black Friday would only contribute to a 5% rise in car sales for the current year.

Similarly the sales for 2016 had already been down by 3.4% than the previous year. In October 18 million vehicles were sold in the US but November is expected to only bring in 17.9 million sales. Sales carried out in the month of November will be recorded by dealers by December 1st.

Ford Motors was the first one to start Black Friday promotions this year with deals introduced in early November. This may not come as a surprise since

Ford sales had previously been reported to have dropped by 11.7% in October. Rivals like GMC trucks are also offering 20% off on their pick-up trucks. Lexus on the other hand has only offered a discount of 0.9 % on its sedans.

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