U.S. light vehicle sales were down in May at 1.54 million, a 6% decline year-over-year with passenger car deliveries particularly weak. Car sales at 646,000 dropped -16% year-over-year. Light truck sales increased 2.3% at 891,000.
AutoData says that the seasonally adjusted annual rate (SAAR) in May was 17.45 million units compared to 17.42 million units in April and 17.70 million units one year ago. However, there doesn’t seem to be much concern in the industry as 2016 is still, arguably, on pace to set another all-time record following 2015’s all-time high. Is this “what me worry” management or an accurate assessment of the situation? The back end of 2016 will tell.
“May 2015 was a tremendous month for auto sales, so it’s not surprising to see a small dip in May 2016, particularly with two less sales days on the calendar,” said American International Auto Dealers Assn President Cody Lusk.
Asian brands took a 47% share of the market, up from 45.7% last month and 45.7% a year ago. All told, Oriental brands peddled 721,311 vehicles, up from 688,785 vehicles in April. This was well below the 746,736 vehicles sold in May 2015. Although these brands experienced a 3.4% decrease in sales versus last May, overall sales for Asian brands are up 2% year-to-date.
Domestic brands finished May with a 44.2% share of the market on sales of 679,419 vehicles. Their May meant a decreased market share from 45.7% last month and 45.5% a year ago. Ominous? Sales of 679,419 vehicles – mostly trucks- were down from 688,722 last month, and 743,403 last May. The Detroit Three May domestic sales were down 8.6% from May 2015, but are up 1.5% for the year-to-date.
European brands captured an 8.8% share of the auto market, selling 135,546 vehicles, which is up from 129,470 last month, but down from 144,951 a year ago. Their share was up from 8.6% held in April, but down from 8.9% a year ago. Of note the diesel disaster at Volkswagen continues with VW brand sales continued their down spiral to 29,000, -17% year-over-year.
Top Ten – No Surprises
Once again the Ford F-Series, Chevrolet Silverado, and Ram pickups took the first three places easily. However, in fourth, the Toyota Camry retook its title as the country’s top-selling car. It was held by the Honda Civic last month, which slipped to fifth place in May. The Toyota Corolla was in sixth place and was joined by the Honda Accord, which was ninth on the best-seller list. The Toyota RAV4 and Honda CR-V posted eighth and tenth place finishes, respectively, on the May 2016 list of bestsellers.
