Black Friday wish list: Toys, TVs...and trucks?
When Rick Morrison walked into Bill Kay Chevrolet in Lisle, Illinois, on Black Friday, he knew exactly what he was looking for: A pickup truck.
"We were willing to wait and to see what kind of prices would be out there on Black Friday, so that's why we're out today," said Morrison.
This is the year of the truck and SUV when it comes to Black Friday sales, which will cap what's expected to be a big month for bigger vehicles.
In fact, RBC Capital estimates the Big 3 will all post double-digit increases in sales of pickups/SUVs and crossovers.
GM, thanks to red-hot demand for its full-size and mid-size pickups, is expected to show November sales of trucks/SUVs rose by 22 percent.
Bill Kay hopes Black Friday will help his dealership hit its November and year-end sales goals.
"We want to get as many people out there. We are advertising, spend a little more on those two days than we do the entire rest of the month to get more people out, to finish out the month strong," he said.
A number of analysts are now forecasting a sales rate for November above 18 million vehicles.
JPMorgan analyst Ryan Brinkman summarized the strength of Black Friday writing, "Demand is running extremely strong and GM and Ford appear to be benefiting mightily." Brinkman estimates GM's November sales will be up 10 percent and Ford's up 14 percent on a sales day adjusted basis.
Truck sales are hot in part because the national average for a gallon of gasoline is $2.05 according to AAA, with more than half of the gas stations in the U.S. selling it for less than $2.00.
Whatever the model, Edmunds.com believes sales are surging due to greater clarity in marketing the discount buyers can expect in showrooms.
"There is a lot of set pricing," said Jessica Caldwell, an analyst at Edmunds.com. "It is the holidays and I think if you kind of package your deal in an easy-to-understand quick manner it probably is going to resonate a lot more with consumers which we have seen."
Still, it appears some of the promotions have been more effective than others. On Black Friday, Ford announced it is ending its "Friends & Neighbors" promotion early, and rolling out another year-end incentive program it will announce on Dec. 1.
Ford issued a statement saying, "We will continue to be competitive, yet disciplined, on incentives going forward."
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