May auto sales hit eye-popping 17.8 million sales pace - Detroit Free Press
New car and truck sales exceeded already lofty expectations in May as easy credit, longer loans and Memorial Day weekend promotions attracted strong showroom traffic. "This is the first time we'll see six consecutive years of growth ever in the industry or at least back to when our data set begins in 1931," said Eric Lyman,Truecar vice president of industry insights. Automotive News reported that it did happen in the 1920s. With continued low gasoline prices, Americans are continuing to migrate to pickups, SUVs and larger crossover vehicles, which is pushing up the selling price. Kelley Blue Book reported that the average new vehicle sold in May for $33,363, down slightly from April, but 4. 3% higher than May 2014. Automakers with a strong light truck lineup were rewarded. Fiat Chrysler Automobiles sales rose 4% from a year earlier, General Motors was up 3% while Ford saw its sales fall 1% because it did not have enough new trucks in showrooms across the country. Honda saw sales increase 1% and Nissan reported a drop of almost 1% which would have been worse if not for record sales of its smaller lineup of trucks and crossovers. Source: www.freep.com
