Cars.com Chief Analyst Jesse Toprak: Best November For Auto Sales In A Decade

Speaking to Benzinga on Tuesday, Cars.com Chief Analyst Jesse Toprak said that both a strong stock market and the “perfect storm of conditions” pushing people to dealerships contributed to better-than-expected new-vehicle sales in the auto sector for November.

Not only did new-car sales exceed expectations, but Toprak said this was the best November in a decade.

He explained that dealerships have both discounted deals on 2014 models and an ample supply of 2015 vehicles that are drawing in consumers.

Very attractive financing and leasing offers, as well as cheap lending are also factors adding to the high amount of sales.

“We are seeing more people quality for new-vehicle loans, but it’s not what we used to see before the recession with true subprime loans,” he said.

Lenders are taking more risks than they were in the middle of the recession, but Toprak emphasized that those are more calculated risks.