The auto industry was eager for a big increase in May 2023 sales and achieved it. After all, inventories were up, incentives were up, and trade values remained strong. All we were missing was lower overall interest rates.
As usual, we only have sales from the companies that report monthly, but my guess is if we saw all the sales numbers, the increase from a year ago would have even been greater than 23%. We’ll get the entire sales report after the July 4th holiday when every automaker will report second quarter and year-to-dates sales.
Mazda was the big winner for May 2023, up 117% from a year ago, with Acura close behind at a 112% increase. Of those reporting, only Lincoln was down from a year ago.
