Second consecutive month of year-over-year decline follows surge in early 2025 buying ahead of tax credit expiration and tariff-related price increases.
New light-vehicle sales reached a seasonally adjusted annual rate (SAAR) of 15.6 million units in November 2025, marking a 5.5% decline from the same month last year, according to the National Automobile Dealers Association (NADA).
The November SAAR showed slight improvement over October’s 15.3 million units but marked the second consecutive month of year-over-year declines.
NADA Chief Economist Patrick Manzi attributed the continued weakness to earlier buying patterns.
“The industry is still dealing with the aftermath of significant pull-ahead
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