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Auto sales expected to lift in May, Edmunds projects

June 1, 2018
Edmunds forecast that 1,565,683 new cars and trucks would be sold in the U.S. in May for an estimated seasonally adjusted annual rate of 16.7 million. That would reflect a 16 percent increase in sales from April 2018 and a 3.5 percent increase from May 2017.
"The summer selling season is off to a healthy start," said Jeremy Acevedo, Edmunds manager of industry analysis. "Despite rising gas prices, shoppers are clearly demonstrating their confidence in the strength of the economy as they continue to seek out larger, more expensive vehicles."
Edmunds experts noted that Memorial Day sales events could contribute to the lift as well.
"Inventories of in-demand vehicles such as light trucks are still running high, so automakers were motivated to make the holiday weekend sales event count," Acevedo said. "Depending on how shoppers responded, it could set the trend for even sweeter deals as we head deeper into the year."
Edmunds estimated that retail SAAR would come in at 13.6 million vehicles in May 2018, with fleet transactions accounting for 18.5 percent of total sales. An estimated 3.4 million used vehicles could be sold in May 2018, for a SAAR of 39.3 million (compared to 3.5 million — or a SAAR of 39.2 million — in April).
 
 

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