New-car sales in the U.S. set to increase nearly 30% in May

Article by Christian A., on May 24, 2012

Research firms Kelley Blue Book and Edmunds.com said that new-car sales in the U.S. are set to increase nearly 30% in May. This would be its widest jump in more than a year. Kelley Blue Book said that the anticipated sales of 1,378,000 vehicles in May would mean a selling rate of 14.2 million vehicles annually to match January for the lowest pace this year.

But this would be the fifth straight month that would have a pace of higher than 14 million. In a statement, Kelley Blue Book senior analyst Alec Gutierrez said that in a typical post-recession recovery, the company would expect auto sector gains to be pushed by “broad economic growth."

He said that “the opposite was true” in the first quarter as auto sales had been the “primary driver” for the GDP growth. Auto sales have also been a “bright spot” amid a slow recovery.

Gutierrez added during this interview set in Detroit that it would almost be like “the tail is wagging the dog." Edmunds’ prediction was similar. Its industry analyst Jessica Caldwell said that overall, the figures in May appear strong. She said that for this month, the “big driver” will still be the “pent-up” demand.

She explained that if these potential buyers enter the market, its sales will be maintained “at a reasonable level.” The auto sales in the U.S. are on track to result to its best showing since 2007.

This year, sales may go up to 14.3 million cars and light trucks, according to estimates from 14 analysts that Bloomberg surveyed. This would be its best full year since 16.1 million in 2007. Last week, Edmunds estimated that there would be 14.4 million in full year sales. Last April, the industry reported a 2% increase to 1.18 million, according to the Automotive News data center. Last month, the industry’s seasonally adjusted annual rate (SAAR) was 14.4 million.

Topics: united states, sales

If you liked the article, share on:

Pin It

Comments

Recommended

Reddit user Jdubbswrx spotted a rather deceptive move coming from the German automotive manufacturer Audi. He posted an image of the supposed exhaust of the new 2018 Audi SQ5 sporting...
by - March 29, 2017
McLaren car owners will be thanking the automotive company as it has decided to roll out new goodies for the 540C, 570S and 570GT sports car line-up. From this series...
by - March 29, 2017
On July 11, Audi is set to reveal its flagship luxury sedan, the all new A8. And at this moment, none of us are sure how this model will look....
by - March 29, 2017
The recent Porsche 911 is definitely considered one of the most elite sports car to grace the roads worldwide. The task of producing its successor is challenging enough for the...
by - March 29, 2017
British startup Zenos, which entered bankruptcy administration earlier this year is now back in business. The Norfolk-based sports car manufacturer was bought by a consortium of investors headed by AC...
by - March 29, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries