May Auto Sales Roundup
The May retail sales numbers are in for the automobile industry and are better than expected across the board.
Major automakers posted the following results for May:
- GM (NYSE: GM) - sales up 13 percent year-over-year vs. six percent analyst estimates
- Ford (NYSE: F) - up three percent vs. decline of 0.2 percent
- Chrysler (OTC: FIATY) - up 17 percent vs. 14 percent estimate
- Toyota (NYSE: TM) - up 17 percent vs. 8.1 percent estimate
- Honda (NYSE: HMC) - up nine percent
GM posted sales growth above estimates, despite a slew of recent recalls.
Ford's U.S sales totaled 254,084 in May, driven primarily by the Fusion and Escape, both of which had its best months ever. Additionally, Lincoln's MKZ set a monthly sales record of 8,845 units.
Looking to foreign cars, Toyota had it best month in six years driven by solid results from Corolla and Hybrids. In contrast, Hyundai sales were led by its SUV brand Santa Fe and its Genesis sedan and coupe.
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