Auto Sales Expected to Lift in May, Edmunds Forecasts
Auto Sales Expected to Lift in May, Edmunds Forecasts
Sustained demand for trucks, vans, SUVs give dealers an unexpected boost
SANTA MONICA, Calif., May 23, 2018 /PRNewswire/ -- Edmunds forecasts that 1,565,683 new cars and trucks will be sold in the U.S. in May for an estimated seasonally adjusted annual rate (SAAR) of 16.7 million. This reflects a 16 percent increase in sales from April 2018 and a 3.5 percent increase from May 2017.
"The summer selling season is off to a healthy start," said Jeremy Acevedo, Edmunds manager of industry analysis. "Despite rising gas prices, shoppers are clearly demonstrating their confidence in the strength of the economy as they continue to seek out larger, more expensive vehicles."
Edmunds experts note that Memorial Day sales events could contribute to this lift as well.
"Inventories of in-demand vehicles such as light trucks are still running high, so automakers are motivated to make this holiday weekend sales event count," Acevedo said. "Depending on how shoppers respond, this could set the trend for even sweeter deals as we head deeper into the year."
SALES VOLUME FORECAST, BY MANUFACTURER
Sales May 2018 May 2017 April 2018 Change from May Change from April
Volume Forecast 2017 2018
GM* 268,648 237,364 237,464 13.2% 13.1%
Ford 235,602 240,250 203,856 -1.9% 15.6%
Toyota 216,947 218,248 192,348 -0.6% 12.8%
Fiat Chrysler 210,225 193,040 184,149 8.9% 14.2%
Honda 152,645 148,414 125,701 2.9% 21.4%
Nissan 125,298 137,471 87,764 -8.9% 42.8%
Hyundai/Kia 118,574 118,518 106,648 0% 11.2%
VW/Audi 52,112 49,211 47,898 5.9% 8.8%
Industry 1,565,683 1,513,415 1,349,746 3.5% 16.0%
*GM sales totals for April 2018 are estimated
**NOTE: May 2018 had 26 selling days, May 2017 had 25 and April 2018 had 24.
Edmunds estimates that retail SAAR will come in at 13.6 million vehicles in May 2018, with fleet transactions accounting for 18.5 percent of total sales. An estimated 3.4 million used vehicles will be sold in May 2018, for a SAAR of 39.3 million (compared to 3.5 million -- or a SAAR of 39.2 million -- in April).
MARKET SHARE FORECAST, BY MANUFACTURER
Market May 2018 May 2017 April 2018 Change from May Change from April
Share Forecast 2017 2018
GM 17.8% 17.2% 18.0% 0.6% -0.2%
Ford 15.2% 15.0% 14.7% 0.2% 0.5%
Toyota 14.0% 14.2% 13.5% -0.2% 0.5%
Fiat Chrysler 12.7% 12.4% 13.1% 0.3% -0.4%
Honda 9.5% 9.7% 8.6% -0.2% 0.9%
Nissan 8.2% 8.6% 9.9% -0.4% -1.7%
Hyundai/Kia 7.6% 8.2% 6.8% -0.6% 0.8%
VW/Audi 3.3% 3.3% 3.2% 0% 0.1%
More insight into recent auto industry trends can be found in the Edmunds Industry Center at http://www.edmunds.com/industry-center/.
About Edmunds
Edmunds guides car shoppers online from research to purchase. With in-depth reviews of every new vehicle, shopping tips from an in-house team of experts, plus a wealth of consumer and automotive market insights, Edmunds helps millions of shoppers each month select, price and buy a car with confidence. Regarded as one of America's best workplaces by Fortune and Great Place to Work, Edmunds is based in Santa Monica, California, and has a satellite office in Detroit, Michigan. Follow us on Twitter, Facebook and Instagram.
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