Fifth Month of Double-Digit Auto Sales Increase in May for the First Time in 26 Years, Since 1984
DETROIT NEWS -- "Auto sales rose in May after sunny Memorial Day weekend deals helped consumers shake off economic worries revived by sharp swings on Wall Street. Compared with last May, when Chrysler LLC was bankrupt and consumer demand had plunged, last month's sales were 19.1% higher at 1.1 million cars and light trucks (see chart above). Led by Chrysler, Detroit's automakers reported double-digit gains in May, padded by large sales to fleet customers."
MP: GM sales increased by 17.5% in May, Ford sales by 22% and Chrysler by 32.7%, versus May 2009 (data here). For all automakers, the cumulative year-to-date sales through May are up by 17.2% this year vs. last year (see chart). May also marks the fifth straight month of double-digit sales gains compared to the same month in the previous year for the first time in 26 years (since 1984, data here).