News
CHICAGO, May 28, 2014 /PRNewswire/ -- Cars.com forecasts total May sales will hit 1,541,462 units, up 6.9 percent year-over-year and up 11 percent from April. A SAAR of 16.1 million new-car sales is expected for May, an increase of 4.1 percent from this time last year and an increase of 0.4 percent month-over-month. This would mark the highest May SAAR since 2007.
"Retail sales were very healthy for nearly all brands in May, fueled by attractive incentives and a great selection of new models for consumers," said Jesse Toprak, chief analyst for Cars.com. "Among major manufacturers, Chrysler had the most impressive performance with a nearly 15 percent year-over -year increase in sales, largely due to the robust growth of its Jeep brand. We expect the SAAR for the rest of the year to track between 16 and 16.5 million units, finishing 2014 with approximately 16.1 million total new light vehicle sales."
Amidst record-setting recalls, GM is expected to see only a modest 3.4 percent increase in month-over month sales. As a result, in part, the brand is projected to lose 1.3 percent of its U.S. market share, compared to the previous month.
Retail sales are projected to account for 81 percent of total automotive sales this month, down 0.5 percent from April and up 1.2 percent from May of last year.
Automotive sales forecasts for May 2014 for the 'Big Eight' manufacturers:
|
Unit Sales |
|||
|
Manufacturer |
May 2014 Sales Forecast |
YoY |
MoM |
|
Chrysler Group |
191,149 |
14.5% |
6.3% |
|
Ford |
245,482 |
1.0% |
18.1% |
|
GM |
262,679 |
3.9% |
3.4% |
|
Honda |
146,840 |
4.9% |
10.9% |
|
Hyundai/Kia |
121,361 |
0.6% |
1.3% |
|
Nissan |
118,763 |
3.8% |
14.3% |
|
Toyota |
218,378 |
5.0% |
9.4% |
|
Volkswagen |
55,120 |
-0.5% |
8.5% |
|
Total |
1,541,462 |
6.9% |
11.0% |
|
Market Share |
|||
|
Manufacturer |
May 2014 Sales Forecast |
Apr-14 |
May-13 |
|
Chrysler Group |
12.4% |
13.0% |
11.6% |
|
Ford |
15.9% |
15.0% |
16.9% |
|
GM |
17.0% |
18.3% |
17.5% |
|
Honda |
9.5% |
9.5% |
9.7% |
|
Hyundai/Kia |
7.9% |
8.6% |
8.4% |
|
Nissan |
7.7% |
7.5% |
7.9% |
|
Toyota |
14.2% |
14.4% |
14.4% |
|
Volkswagen |
3.6% |
3.7% |
3.8% |
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SOURCE Cars.com