WASHINGTON (6/4/14)--Auto sales ramped up in May to 16.8 million units sold--an 800,000-unit increase from April and the fastest pace since 2007--according to numbers released by AutoData Tuesday.
Chrysler, Toyota and Nissan all enjoyed year-over-year sales growth near 20% year-over-year, and even an embattled GM, which has been ravaged by a spate of recent recalls, saw sales climb 12% annually.
Hyundai, Honda and Ford experienced single digit gains.
Sales for the month may have received a boost from the benefit of a fifth weekend in May, in addition to the sales events that always mark Memorial Day to attract consumers.
Moody's analysts said that warmer spring weather and the success of several new vehicle models fueled sales as well (Economy.com June 3).
Several manufacturers did not fare as well in May, however, including Volkswagen and Volvo, which each saw year-over-year sales diminish.
Even more than cars, light-truck sales experienced the strongest gains and imports in general made up 22% of sales in May.
"The strong pace of sales is not sustainable, but reflects, to a large extent, the release of pent-up demand," said Sophia Koropeckyj, Moody's analyst. "Moody's analytics expects vehicle sales to continue their upward path, however. In 2015, sales are expected to average 17 million units."