May auto sales hit fastest pace in a decade - The Detroit News
May auto sales hit fastest pace in a decade Detroit's Big Three automakers reported better-than-expected sales in May, as the industry's sales pace hit its highest point for any month in nearly a decade, with buyers flocking to dealerships for... ws/1M03wR5 Detroit's Big Three automakers reported better-than-expected sales in May, as the industry's sales pace hit its highest point for any month in nearly a decade, with buyers flocking to dealerships for trucks and SUVs. Auto industry sales hit nearly 1. 64 million last month, up 1. 6 percent from a year ago, despite one fewer selling day compared to May 2014. The annual sales pace hit 17. 79 million in May, up from 16. 73 million a year earlier and was the... With lower gas prices, easy credit and low interest rates, light truck sales in May continued to outpace car sales. Consumers took advantage of Memorial Day sales and the weekend following, pushing sales above analysts' expectations, said Jeff Schuster, senior vice president of forecasting for LMC Automotive. General Motors Co. and Fiat Chrysler Automobiles reported 3 percent and 4 percent sales gains, respectively, while Ford Motor Co. sales fell 1. 3 percent. GM and FCA were aided by strong sales of trucks and SUVs, while Ford's sales were off because truck sales were down because of tight supplies of F-150s. . GM posted its best May since 2007, with three of four brands increasing sales. Source: www.detroitnews.com
