Memorial Day Sales Expected to Boost New Vehicle Sales in May, Forecasts Edmunds
Although May auto sales are expected to fall short year-over-year, analysts predict a SAAR of at least 17 million for the second time in 2019 thanks to automakers, dealers extending holiday incentives
SANTA MONICA, Calif., May 29, 2019 /PRNewswire/ -- The car shopping experts at Edmunds forecast that 1,551,643 new cars and trucks will be sold in the U.S. in May for an estimated seasonally adjusted annual rate (SAAR) of 17.0 million. This reflects a 15.9% increase in sales from April 2019, but a 2.2% decrease from May 2018.
"Dealers piled on the incentives and rolled out the barbecue grills this Memorial Day weekend to lure in shoppers and it looks like it did the trick," said Jeremy Acevedo, Edmunds' manager of industry analysis. "Good deals have been tougher to come by this year due to higher interest rates and rising prices, so it makes sense that shoppers would pounce on the chance for a steal."
Edmunds analysts note that while the May sales rebound is a positive sign for the industry, it's likely not the start of an ongoing trend.
"It's going to be an up and down year," Acevedo noted. "Automakers are still figuring out how to balance supply with declining demand, but incentive budgets aren't big enough for dealers to offer deep discounts on a consistent basis. And when those bargains go away, so do the shoppers."
SALES VOLUME FORECAST, BY MANUFACTURER |
|||||
Sales Volume |
May 2019 Forecast |
May 2018 |
April 2019 |
Change from May 2018 |
Change from April 2019 |
GM* |
259,666 |
265,030 |
231,000 |
-2.0% |
12.4% |
Ford* |
230,946 |
240,679 |
194,000 |
-4.0% |
19.0% |
Toyota |
214,637 |
215,321 |
183,866 |
-0.3% |
16.7% |
Fiat Chrysler |
198,944 |
214,294 |
172,900 |
-7.2% |
15.1% |
Honda |
148,355 |
153,069 |
125,775 |
-3.1% |
18.0% |
Hyundai/Kia |
127,938 |
125,518 |
108,410 |
1.9% |
18.0% |
Nissan |
122,829 |
131,832 |
95,698 |
-6.8% |
28.4% |
VW/Audi |
49,408 |
50,526 |
46,333 |
-2.2% |
6.6% |
Tesla |
13,570 |
- |
- |
- |
- |
Industry |
1,551,643 |
1,586,902 |
1,339,102 |
-2.2% |
15.9% |
* |
GM sales totals for May 2018 are estimated, GM & Ford sales totals for April 2019 are estimated |
** |
NOTE: May 2019 had 26 selling days, May 2018 had 26 and April 2019 had 25. |
Edmunds estimates that retail SAAR will come in at 13.8 million vehicles in May 2019, with fleet transactions accounting for 18.9% of total sales. An estimated 3.4 million used vehicles will be sold in May 2019, for a SAAR of 39.2 million (compared to 3.5 million — or a SAAR of 39.1 million — in April).
MARKET SHARE FORECAST, BY MANUFACTURER |
|||||
Market Share |
May 2019 Forecast |
May 2018 |
April 2019 |
Change from May 2018 |
Change from April 2019 |
GM* |
16.7% |
16.7% |
17.3% |
0.0% |
-0.6% |
Ford* |
14.9% |
15.2% |
14.6% |
-0.3% |
0.3% |
Toyota |
13.8% |
13.6% |
13.7% |
0.3% |
0.1% |
Fiat Chrysler |
12.8% |
13.5% |
12.9% |
-0.7% |
-0.1% |
Honda |
9.6% |
9.6% |
9.4% |
-0.1% |
0.2% |
Hyundai/Kia |
8.2% |
7.9% |
8.1% |
0.3% |
0.1% |
Nissan |
7.9% |
8.3% |
7.1% |
-0.4% |
0.8% |
VW/Audi |
3.2% |
3.2% |
3.5% |
0.0% |
-0.3% |
Tesla |
0.9% |
- |
- |
- |
- |
More insight into recent auto industry trends can be found in the Edmunds Industry Center at http://www.edmunds.com/industry-center/.
About Edmunds
Edmunds guides car shoppers online from research to purchase. With in-depth reviews of every new vehicle, shopping tips from an in-house team of experts, plus a wealth of consumer and automotive market insights, Edmunds helps millions of shoppers each month select, price and buy a car with confidence. Regarded as one of America's best workplaces by Fortune and Great Place to Work, Edmunds is based in Santa Monica, California, and has a satellite office in Detroit, Michigan. Follow us on Twitter, Facebook and Instagram.
CONTACT:
Talia James-Armand
Senior Manager, Public Relations
[email protected]
310-309-4900
http://edmunds.com/about/press
SOURCE Edmunds
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