March car sales hit a five-year high led by compacts and trucks.

March U.S. auto sales surged to their highest level in more than five years – with several makers reporting all-time records for the month.

But the overall increase was smaller than the double-digit gains of recent months, raising concerns about whether the unexpectedly strong pace of the automotive recovery will continue – especially in the light of continuing concerns about the impact of Washington gridlock on the overall economy.

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Analysts noted that sales incentives have been declining in recent months, even as average transaction prices – what motorists actually pay after adding options and subtracting discounts – has continued rising. On the other hand, pent-up demand appears to be just one of the positive factors likely to keep momentum going after the industry’s worst downturn since the Great Recession.

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U.S. vehicle sales were up in March led by, in part, truck sales.

While a number of key automakers have yet to formally release their sales numbers, preliminary data suggest that March will see the highest level of U.S. car and truck sales in nearly six years.

Preliminary indications suggest that sales will average out to an annualized rate of as much as 15.6 million – well above current industry forecasts for all of 2013 – and the best total since December 2007, just before the U.S. auto market plunged into its worst downturn since the Great Depression.

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The strong March performance appears to reflect a variety of factors, including the availability of a number of new and well-reviewed products, pent-up demand, low interest rates and even tax-refund checks. At the same time, analysts suggest that makers continue reeling buyers into their showrooms despite cutting back on incentives and boosting prices on many models.

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