GM's top sales analyst says U.S. auto sales in November could top an annual rate of 10.8 million for the first time year besides this summer, which was helped by the Cash for Clunkers rebates.
General Motors Co. Executive Director of Market Analysis Mike DiGiovanni says the auto industry is having a solid sales month through the first 19 days of November. He says it's another sign that the economy is beginning a slow recovery.
The Edmunds.com automotive Web site forecasts an annual light vehicle sales rate of 10.3 million for the month and J.D. Power and Associates predicts 10.2 million.
DiGiovanni also says GM could see its fourth straight month of market share gains in November.
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The government's Cash for Clunkers program offered rebates to people who traded in older vehicles, boosting sales in July and August.