May Auto Sales Finished Better Than Expected

J.D. Power blog

Accord­ing to analy­sis from J.D. Power’s Pow­er Infor­ma­tion Net­work (PIN) and strate­gic part­ner LMC Auto­mo­tive, May auto sales took an unex­pect­ed upswing.

Get the details on May auto sales from J.D. Pow­er.

New car and light-truck sales in May fin­ished the month high­er than pro­ject­ed, accord­ing to analy­sis from J.D. Power’s Pow­er Infor­ma­tion Net­work® (PIN) and strate­gic part­ner LMC Auto­mo­tive. The bet­ter-than-expect­ed per­for­mance was pro­pelled by a strong retail mar­ket espe­cial­ly dur­ing the last four days of the month—which includ­ed the Memo­r­i­al Day weekend—and account­ed for 25% of May’s retail totals.

Automak­ers in the U.S. mar­ket sold 8.2% more new vehi­cles than in the same month of 2012. Both months in both years had the same num­ber of sell­ing days. The sea­son­al­ly adjust­ed annu­al sell­ing rate (SAAR) aver­aged more than 15.2 mil­lion units for total sales (retail and fleet).

PIN and LMC Auto­mo­tive also report­ed that near­ly all man­u­fac­tur­ers post­ed year-over-year retail sales increas­es. Through the first 5 months of 2013, total sales were up 7.3% from the total in the same time peri­od of 2012.

J.D. Power’s PIN data analy­sis also con­firms that the new-vehi­cle nego­ti­at­ed price in May was up 2.9% com­pared to a year ago and up a frac­tion of a point (0.2%) from last month (not sea­son­al­ly adjust­ed). The aver­age cash rebate amount was up 4.7% vs. a year ago and 12.3% high­er than last month.

In regard to financ­ing, retail lease sales pen­e­tra­tion increased 2.3 per­cent­age points from last year. Addi­tion­al­ly, the aver­age retail turn rate (the aver­age num­ber of days that a new vehi­cle remains on a deal­er lot before being sold) in May was 58 days vs. than last month’s 57 days and was 11 days longer than May 2012.

Most major car and light-truck seg­ments post­ed year-over-year and year-to-date gains in total light-vehi­cle sales. Through the first five months, seg­ments that sig­nif­i­cant­ly out­paced the year-to-date 7.3% increase includ­ed: Com­pact Crossovers (CUVs) and Large Pick­ups.

 

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