U.S. Auto Sales Surge in May

Recent reports indicate that US car sales in May exceeded expectations, driven by Memorial Day deals and strong demand for SUVs. According to Autodata Corp., sales increased by 2 percent compared to last May, with over 1.64 million vehicles sold, marking the fastest growth since July 2005. This growth surprised many analysts who had expected a downturn due to reduced buying from rental car companies and other auto fleets.

May is typically a strong month for car sales, as people who have received their tax returns prepare for summer road trips. Last year, May experienced an impressive 11 percent jump in sales, with just over 1.61 million vehicles sold, the highest monthly total in nearly ten years.