US auto sales hit 9-year high in May
DETROIT -- Brisk demand for SUVs and pickup trucks -- and five sunny weekends -- pushed U.S. auto sales to a nine-year high in May.
Chrysler, Nissan and Toyota all reported double-digit sales gains over last May. Even General Motors, battling bad publicity from a mishandled recall, surprised with a 13 percent sales increase.
Ford’s sales rose a better-than-expected 3 percent, while Hyundai’s were up 4 percent. Of major automakers, only Volkswagen’s sales fell.
May is traditionally a strong month for the auto industry, as buyers spend their tax returns and think ahead to summer road trips. This year’s calendar, with five weekends, gave it an extra boost. Sales were particularly strong the last weekend of the month, automakers said.
Sales rose 11 percent to just over 1.6 million in May. That was the highest monthly total since July 2005, according to Kelley Blue Book.
The surge helped erase doubts about the strength of the industry. January and February sales were weaker than expected as consumers spent more time shoveling snow than shopping.
"It’s the continued recovery in the summer selling season," said Jeff Schuster, executive vice president of forecasting for LMC Automotive, an industry consulting firm. "Kind of everything aligning in the month of May."
June should bring more of the same, said Karl Brauer, a senior analyst with Kelley Blue Book.
TALK TO US
If you'd like to leave a comment (or a tip or a question) about this story with the editors, please email us. We also welcome letters to the editor for publication; you can do that by filling out our letters form and submitting it to the newsroom.