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Sales Forecast Jumps in May

By Staff Writer May 29, 2020

Edmunds is forecasting that May U.S. new car and truck sales will hit 1,074,542,  an estimated seasonally adjusted annual rate (SAAR) of 11.8 million. This reflects a 32.5 percent decrease in sales from May 2019, but a 50.5 percent increase from April 2020.

“We can safely say that April was the bottom for auto sales during the coronavirus pandemic,” said Jessica Caldwell, Edmunds' executive director of insights. “There's still a long road to recovery ahead, but May auto sales are a really encouraging sign for the industry.”

Edmunds experts note that automakers have already begun to dial back some of the more generous financing incentives made available at the start of the crisis; consumer demand continues to grow and inventory could begin to dwindle as auto manufacturers work on getting their factories safely and consistently up and running.

Edmunds estimates that retail SAAR will come in at 10.2 million vehicles in May 2020, with fleet transactions accounting for 13.5 percent of total sales.

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Last modified on Friday, 29 May 2020 13:54