DETROIT – Forget a “December to remember.” For car buyers and dealers, it’s already been a November they’ll never forget. In a new report, research firm Cox Automotive found a surprising uptick in new car sales in November, outpacing industry estimates. It could be because buyers are itching to pull the trigger on a car purchase now, due to the regulatory uncertainty of incoming administration.

Retail momentum is likely driven in part by “a post-election, consumer mindset shift — the move from ‘it’s better to wait’ to ‘better buy now,’” the report says, citing Cox chief economist Jonathan Smoke.

Cox and Smoke predict that a future Trump administration could be a lot like his first one, in which “ongoing trade skirmishes roil the [auto] markets.” That might have an impact on the when-to-buy calculation that all shoppers face.

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“Goodbye, national EV tax credits? Possible. Shutting the leasing loopholes? Maybe. Tariffs on vehicles from Mexico and Canada? Could be. Or maybe not,” the report said. “The future is unknown, but for in-market buyers none of the known unknowns suggest a wait-and-see attitude is a winning strategy. Best to buy now.”

While Cox’s November report won’t be ready until next week, the firm said all signs point to a hotter-than-expected figure, with a seasonally adjusted annual rate of sales (SAAR) closer to 16.5 million, compared to a prior projection of 16.0 million.

J.D. Power And GlobalData See Similar Results

Rival research firm J.D. Power and GlobalData see similar results, projecting new car sales to hit 1,361,200 in November, up 6.7% from a year ago on an adjusted basis.

Strong November US sales reports just released this week from Ford, Hyundai, Honda, and Toyota back up those projections.

But the possible losses of benefits like tax credits and the threat of tariffs hitting foreign cars aren’t the whole story, as Cox sees other factors contributing to strength at the retail level for some time.

There may be more pent-up demand than predicted, said Cox senior economist Charlie Chesbrough, as consumers put the national election behind them and take advantage of better finance rates, increased inventory, and more incentives.

“I think the consumer may surprise us a bit in the coming months,” Chesbrough added in the report.