Pushed by renewed consumer demand, the US car market rose 8.2% in May moving the cumulated 2013 sales at plus 7.2% from last year. Confirming its momentum, Ford further improved its share, thanks to strong demand on FSeries, Focus, Escape and Fusion.
In May, US light passenger vehicles sales were 1,443,311 sales, up 8.2% and it was the 24th year-on-year increase in a row.
Most automakers topped analysts' expectations last month, with Nissan reporting its highest May sales ever after cutting prices on seven popular models. Chrysler, Ford, Honda and Toyota also reported increases. Only Volkswagen's sales were down from last May.
Low interest rate policies have helped nurture sales by keeping loan rates low. A 48-month new-car loan now averages 2.92%, according to Bankrate.com and recovered demand in many sectors like home building and oil and gas are fueling the demand for vehicles.
Ford kept growing momentum, selling 238,714 vehicles and pushing share up at 16.5%, 0.6 points of share better than in April. Cumulative sales this year were above 1 million, with a 16% share.
Chevrolet was the loser of the month, selling 179,510 units with a share dropped at 12.4%, down 1 point of share from the previous month. Year-to-date sales were 821,674 with a share of 12.8%. Chevrolet kept their Top 4 models in the top 30 and Silverado in 2nd increased their market share.
Toyota was challenging the second place across all the month but ended in 3rd position just few units below Chevrolet, selling 179,137 units with a share of 12.4%, up 0.5 points of share from the previous month. Year-to-date sales were 787,836 with a share of 12.3%. Corolla was back in the top ten, placing in 9th.
Honda kept the 4th position, selling 125,649 units with a share of 8.7%, down 0.4 points of share from the previous month. Year-to-date sales were 545,447 with a share of 8.5%. The Accord kept the 4th place, second among cars.
Nissan recovered after the April shortfall and was 5th with 106,558 sales and 7.4% of share, up 1.2 points from the previous month. Year-to-date sales were 477,466 with a share of 7.4%. The bestselling model, the Altima, recovered and surged in 5th from 14th.
Hyundai in 6th sold 68,358 units with a share of 4.7%, down 0.2 points from the previous month. Year-to-date sales were 296,003 with a share of 4.6%.
Dodge was 7th with 56,407 sales and a share slipped at 3.9%, down 0.3 points of share from the previous month. Year-todate sales were 268,571 with a share of 4.2%. The top model was the Ram, flat in 5th position.
Kia kept the 8th place selling 52,327 units with a share of 3.6%, down 0.1 points from the previous month. Cumulated 2013 were 226,815 with a share of 3.5%. The best-selling model was the Optima in 23rd position.
Jeep kept the 9th position, selling 44,419 units with a share flat at 3.1%. Yearto- date sales were 184,796 with a share of 2.9%. The Grand Cherokee was 20th.
GMC was 10th selling 41,594 with a share of 2.9%, up 0.2 points from the previous month. Year-to-date sales were 181,320 with a share of 2.8%. The top model was the Sierra, advanced in 19th place.
Looking at the top models ranking, the Ford F-Series in 1st sold 71,604 units with a share of 5.0%, up 0.4 from the previous month. Year-to-date sales were 299,477 with a share of 4.6%.
The Silverado was 2nd, selling 43,283 units with a share of 3.0%, down 0.1 points from the previous month, followed by Toyota Camry in 3rd, up 1 spot, with 39,216 units and 2.7% of share.
Honda Accord was 4th selling 33,218 units with a share of 2.3%, down 0.3 points from the previous month, followed by the Nissan Altima, advanced in 5th from 14th with 31,4940 sales and a share of 2.2%, up 0.5 points, and by Dodge Ram in 6th with 31,672 sales and a share of 2.2%.
Honda Civic was 7th, up 1 spot from April, with 30,268 units and a share of 2.1%, followed by Ford Fusion in 8th with 29,553 sales and a share of 2%. The Escape was stable in 9th with 29,123 sales, ahead of the Corolla.