The economic “showers” that slowed new car sales in April are resulting blooming results in May as new vehicle sales are exceeding expectations thus far this month despite the slow tempo of economic growth in the U.S.
“The industry continues to outperform prior-year levels with respect to retail sales and transaction prices,” said John Humphrey, senior vice president of the global automotive practice at J.D. Power.
Total light-vehicle sales in May 2015 are projected to reach 1,591,100, a 3% increase on a selling-day-adjusted basis compared with May 2014. Fleet volume is expected to hit 290,500 units, accounting for 18.3% of total sales, up from 17.6% a year ago. (more…)