Auto sales in May hit 9-Year high in US
Just five sunny weekends is all it takes to push US automotive sales to a nine-year high. As US economy is booming since last couple of years and major Auto sales shown during these time.
Chrysler, Nissan and Toyota – with demand for SUVs increasing – reported double digit sales gains just in the last month – May 2014. In fact, even the General Motors, which is trying hard in battling bad publicity caused from mishandling recall, has surprised with reports of 13 percent sales increase.
Traditionally, May has been a strong month in the auto industry, as buyers usually spend their tax refunds, resulting in particularly strong sales in the last weekend of the month. This year, industry sales in the month of May increased to 11 percent to over 1.6 million, which is the highest monthly total since July 2005.
Fords sales had a slight increase of 3 percent, still better than expected, while Hyundai’s sales went up by 4 percent. Honda was up by around 9 percent in overall sales, with Ohio-made Accord leading with an increase in 19 percent in sales. Toyota has also reported a sales increase of 17 percent last May.
The country’s best-selling car, the Camry midsize sedan saw an increase by 26 percent to nearly 50,000, while Luxury Lexus brand sales was up by 21 percent. Nissan had a sales jump by 19 percent with heavy demand for new vehicles. Unfortunately, Volkswagen had rough time this may with a drop in sales figure by 15 percent. However, the brand is preparing to launch the new Golf compact car.
“With spring finally in full force across the country, Accord, Civic and CR-V are really starting to bloom,” Jeff Conrad, Honda division senior vice president and general manager, said in a statement. “With our three core models outselling some entire brands and the all-new Fit starting to hit the ground next week, our dealers are preparing for heavy customer traffic.”