Some of the steam seems to be out of the new-car market this month. As of May 18, sales look to be up around 6 percent vs. the year-ago period and floor traffic continues to increase, but closing ratios slowed dramatically.
Based on data from the first half of May, the industry is on track to sell 1.125 million units, down about 50,000 units from April. The industry’s true delivery rate is currently tracking in the mid- to high-13 million range.
“For some mass-market brands, visitors to showrooms continue to be strong,” CNW’s Art Spinella wrote in his May retail automotive summary. “Chrysler, Toyota, Nissan are in the double-digits, while GM, Ford, Honda and virtually all of the second-tier Asian imports are lagging or barely ahead of their year-ago rates.
via F&I Magazine.