Vehicles Sales Increase to 15.9 million SAAR in May; Up 2.5% YoY

Wards Auto released their estimate of light vehicle sales for May: May U.S. Light-Vehicle Sales Continue 2024 Trend of Slow, Steady Growth (pay site).

Further confirming as a theme for 2024, growth in May largely was centered in the most affordable CUV and car segments. Other sectors during the first five months of 2024 have either recorded sporadic gains or fell into steady decline, including some, such as fullsize pickups, that are coming off lengthy periods of strong results. So far in 2024, market strength is with more affordable small and midsize CUVs and small sedans.

Click on graph for larger image.

This graph shows light vehicle sales since 2006 from the BEA (blue) and Wards Auto's estimate for May (red).

Sales in May (15.90 million SAAR) were up 1.0% from April, and up 2.5% from May 2023.

The second graph shows light vehicle sales since the BEA started keeping data in 1967.

Sales in May were at the consensus forecast.