U.S. Car Sales Sluggish, Demand Cools

May was a bit cooler in some parts of the country, especially in the category of new car sales.  Demand was sluggish and sales showed it.

While analysts expected a decline due to fewer selling days, expectations were for the seasonal adjusted annual selling rate to approach 17.3 million vehicles.

And then came reality.  General Motors notched an 18% decline for the month and other major car makers also reported weaker sales as compared to one year ago.

Toyota was down 10% and Ford, Honda and Nissan also announced declines.

So here’s the thing: The Memorial Day holiday typically jumpstarts the summer car-selling season. And, some auto makers have been boosting inventory, awaiting a surge in consumer demand.

Category: Featured