U.S. Auto Sales Highest Since Summer 2005

U.S. Auto SalesOn Tuesday, June 2, 2015, auto manufacturers reported their sales in the U.S. for the month of May. In total, there were 1.64 million vehicles sold during the month, a 1.6% increase year-over-year. Annualizing the data, U.S. auto sales are at 17.79 million units, beating economists’ expectation of 17.3 million. (Source: Motor Intelligence, June 2, 2015.)

Detroit Companies Doing Well

General Motors Company (NYSE/GM) reports total sales of 293,097 vehicles in the U.S. in May. These were the best May sales since 2007 and the best month since August 2008. (Source: General Motors, June 2, 2015.)

Total sales increased by three percent year-over-year. Retail sales surged a higher seven percent. GM says that the strong sellers for the month are trucks and crossovers.

Ford Motor Co. (NYSE/F) sold 250,086 vehicles this May, a decline of 1.3% year-over-year, but still beating expectations. (Source: Ford Motor Company, June 2, 2015.)

Demand is strong for their new vehicles, Ford says. The company plans to cut short their summer shutdowns at several assembly plants as supply is getting tight.

Fiat Chrysler Automobiles N.V. (NYSE/FCAU) sold 202,227 vehicles in May, a four percent increase from the same period last year. It is also the first time sales exceeded 200,000 since March 2007. (Source: Fiat Chrysler Automobiles, June 2, 2015.)

Among Fiat Chrysler’s brands, “Jeep” sales were up 13%, enjoying the best month ever. The “Chrysler 200,” a compact sedan, increased its sales by 537%. This also set a new monthly sales record.

Sales Mostly Up

Toyota’s sales slipped 0.3% to 242,579 units in the U.S. Nissan also saw a sales decrease, at 0.8% to 134,779 vehicles. Honda, on the other hand, gained 1.3% in sales to 154,593 units in May.

Sales for BMW were up 4.3% in America this May. Its competitor, Mercedes Benz, gained a more solid 12.0%.

Tesla Motors, Inc. (NASDAQ/TSLA) increased its sales by a remarkable 26.7% in May, selling a total of 1,900 vehicles in the U.S.

On the high performance side, Ferrari and Maserati both enjoyed double-digit gains in May, increasing sales by 10.6% and 17.2%, respectively. Porsche, however, saw a 7.4% drop in sales.

Consumers also seem to be warming up to SUVs. Land Rover sales in America surged 18.7% in May.