The sales of light vehicles in the U.S. climbed by 8 percent in May, as the industry bounced back from their unsatisfactory April showing despite the increase in pickup sales. Auto giants like Nissan, Subaru, Ford, and Chrysler group disclosed strong figures that show how far they have gone. Honda, Toyota, and General Motors posted fewer gains, while the only carmaker to fall is Mitsubishi.
Annual Sales Rate
The annual rates of sales, modified for some reasons, climbed to 15.3 million from 14 million a year before. Before the decline in April, the annual rate of sales had been 15 million for five consecutive months. This has been the longest record since the downturn.
Retail sales, on the other hand, have a tendency to be more lucrative than fleet and commercial shipments. Bill Fay, the general manager of Toyota, said the retail volumes of the industry were supported by falling unemployment, stable petroleum prices, and low interest rates.
The industry’s 8 percent surge for the month went above the 7 percent usual estimate of experts. In general, light truck shipments went up by 11 percent last month. For this year, the volume of light vehicles has climbed by 7 percent, with demands for cars climbing by 4 percent.