U.S. new-vehicle sales are expected to rise in May, thanks to an extra selling day and deals over the long Memorial Day weekend.
Forecasts from Cox Automotive, Edmunds and LMC Automotive/J.D. Power call for sales to rise about 3 percent, to around 1.56 million vehicles, from May 2017. It would be the industry’s third increase in the first five months of 2018.
LMC/J.D. Power and Cox say that will result in a seasonally adjusted, annualized rate of sales of 16.6 million vehicles, while Edmunds forecasts a 16.7 million SAAR. Both figures are below April’s rate of 17.2 million and the May 2017 SAAR of 16.8 million. The SAAR has topped 17 million units for eight straight months.