U.S. auto sales in May are expected to reach nearly 1.4 million, according to Edmunds.com, with Toyota, Honda and Chrysler leading the charge. The top two Japanese automakers are showing signs of a strong recovery from last year's natural disasters in Japan, while Chrysler could have its best sales month since March 2008.
Edmunds.com estimates that 1,391,163 new cars will be sold in May, up more than 30 percent from a year ago, putting the industry on pace to sell 14.4 million cars for the year.
Jessica Caldwell, senior analyst at Edmunds.com, observed: "With continued pent-up demand and consumers gaining more and more access to credit, there's every reason to believe that sales can continue at this rate through the rest of the year."
Read Article