Following a slight decline the previous month, auto sales were on the rebound in May.
Price cuts on seven popular models spurred Nissan sales to jump 25% to more than 114,000 cars and trucks, the Japanese carmaker’s highest May sales ever. Chrysler, meanwhile, saw an 11% uptick to nearly 167,000 cars and trucks, giving the Detroit manufacturer its best may since 2007 — and its 38th consecutive year-over-year monthly sales gain. 
General Motors posted its strongest monthly sales since September 2008, while Ford Motor Co.’s sales increased 14%, and Toyota’s 2.5%. Only Volkswagen had a year-over-year decline.
Industry forecasters expect to see a 7% year-over-year rise for May to roughly 1.4 million units, which puts the industry back on track to hit 15 million units this year. After a slower-than-anticipated April, the annualized rate slid below 15 million for the first time in six months, which had many analysts concerned that the industry’s recovery was slowing down.
“This quick rebound is just another example of how the auto industry is currently one of the most resilient areas of the overall economy,” Jessica Caldwell, a senior analyst at Edmunds, said in a published report.
Chrysler was a surprise to many analysts, as Ram pickup truck sales were robust with a 22% year-over-year increase to 32,000 units. The carmaker also had a 21% rise in Jeep Grand Cherokee sales. Sales on the 300 large sedan, however, dropped 18%. Nissan saw its biggest increase in Pathfinder sales, which more than quadrupled to 9,340 units, as well as the midsize Altima. The Altima, pictured above, had a 41% gain, mostly likely because it was among the models with a price cut.
With 71,604 units sold, Ford’s F-Series pickup — the bestselling vehicle in the U.S. — had its highest sales since March 2007. The automaker’s Escape SUV also had a record-breaking month, moving 29,000 units, its highest monthly total since the model was introduced in 2000. GM’s Chevrolet Silverado increased 25% to 43,000 units.
Such an uptick in truck and SUV sales shouldn’t come as a surprise, as home construction continues to grow.
