Toyota seen leading US auto sales gains in May

The pace of US auto sales will hover around 14.5 million vehicles in May, spurred by sales of cars and crossovers as the Japanese automakers bounce back from last year’s earthquake-related vehicle shortages, analysts said.

By (Reuters)

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Published: Fri 1 Jun 2012, 1:06 PM

Last updated: Tue 7 Apr 2015, 11:33 AM

The projected sales pace is roughly in line with the 14.4 million rate seen in March and April. A year ago at this time, the industry reported lower-than-expected sales, hurt by a shrinking supply of cars and vehicle prices that were too high for consumers trapped in a tepid economic recovery.

But now, the auto industry has recovered from those shortages, particularly Japan-based automakers. Incentives, which reduce the price of a vehicle for consumers, also have risen slightly.

Industry research firm TrueCar.com expects light vehicle sales to be up 32 percent in May to the highest level in five years. Automakers report their May sales figures on June 1.

The industry is now on the mend after its near-collapse in 2009 when General Motors Co and Chrysler filed for bankruptcy and sales fell to 10.4 million vehicles. By contrast, vehicle sales in the United States averaged around 16.7 million a year between 1998 and 2007.


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