Automakers see strong sales in May - USA TODAY
Automakers reported a strong sales pace in May, helped by a improved consumer confidence, lower unemployment and moderate gas prices that propelled sales of pickups and SUVs. While Autodata reported that sales improved 1. 6% compared to the same month last year, the more significant figure was a seasonally adjusted sales rate that would, if it were to be maintained, put the industry on pace to sell almost 17. 8 million... Among Detroit's Big 3, GM's overall sales rose 3% in May, Fiat Chrysler sold 4% more new vehicles in May than the same month last year and Ford was down 1. 3%, Autodata says. But there was no doubt in the industry that automakers had, overall, seen a month of near-record sales, beating expectations. "The auto industry is on fire," declared Eric Lyman, senior analyst for TrueCar, an auto sales web site. Unlike a decade ago when automakers were churning out more vehicles than they could sell profitably, the latest cycle is unfolding in way that's likely to bring record profits as well. Even though Nissan's sales were down 0. 8%, it set a May record for sales of its pickups and SUVs. Auto sales can be inflated by big sales to corporate, rental or government fleets, which aren't as profitable as sales to individual. Source: www.usatoday.com
