New Car Sales to Rise in May, Led by Ford, Nissan, Volkswagen

car_production_lineSales of new cars in May are forecast to rise as much as 8% year-over-year in the U.S. and bounce back to a seasonally adjusted annual rate of more than 15 million new cars sold in 2013. The best-selling vehicles will be pickup trucks, up nearly 20%, and compact crossovers, up 15.7%, according to auto industry stalwart Kelley Blue Book (KBB).

KBB projects new vehicle sales for May of 1.415 million units, up 6% compared with May 2012 sales, while J.D. Powers and Associates and others are looking for unit sales of 1.43 million vehicles, up 8% for the month.

Sales for General Motors Co. (NYSE: GM) are expected to rise 5.6% and the top U.S. automaker is expected to nab market share of 18.3%, according to KBB. Ford Motor Co. (NYSE: F) will see a sales jump of 8.7%, improving its U.S. market share to 16.6%. Sales at Toyota Motor Co. (NYSE: TM) are expected to slide 1.5% and the company's market share is slated to fall by 1.1% to 14.1%.

The largest sales gain in number of vehicles sold will be posted by Nissan, up nearly 20%, followed by Volkswagen, which is expected to see a gain of 9.2%. Nissan's market share will rise by nearly a full percentage point, to 7.8%, mostly at the expense of Toyota. Chrysler Group LLC is expected to post a gain of 7.3% in unit sales and increase its market share to 11.4%.


Filed under: 24/7 Wall St. Wire, Autos, Research Tagged: F, featured, GM, TM

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winds001

The MSM is beating the drum about how great it is that car sales are up. The fact is that the US auto fleet peaked in 2007 and will reduce each year and it should. More time and money should be spent to maintain the existing cars. The only way to reduce government size is to reduce the money available to government and new cars provide huge tax inflows to government. Consumers should stop borrowing money they don't have to buy cars they don't need and to pay taxes to governments that should not have the taxes that flow from car purchases. Hey, how many times should we have to pay sales taxes and ad valorum taxes on one car anyway? I wish US new car sales would drop to 1 million per year for the next 3 decades.

May 25 2013 at 12:25 PM Report abuse rate up rate down Reply
fh1939

love my TDI nothing comes close: nothing;

May 23 2013 at 5:36 PM Report abuse rate up rate down Reply