Memorial Day Sales Key to Propping Up May Auto Sales

SANTA MONICA, Calif., May 25, 2017 /PRNewswire/ -- Edmunds, the leading car shopping and information platform, forecasts that 1,527,363 new cars and trucks will be sold in the U.S. in May for an estimated seasonally adjusted annual rate (SAAR) of 16.8 million. This reflects a 7.5 percent increase in sales from April 2017 and a 0.3 percent increase from May 2016.

"Generous incentives are keeping traffic flowing to dealer lots, but a lot is riding on Memorial Day sales for automakers to keep momentum strong through the critical summer selling months," said Edmunds Executive Director of Industry Analysis Jessica Caldwell. "As long as high inventories continue to drive attractive deals and the economy remains strong, consumers will be in a great position to take advantage of a buyer's market this summer."

Edmunds estimates that retail SAAR will come in at 13.5 million vehicles in May 2017, with fleet transactions accounting for 19.6 percent of total sales. An estimated 3.3 million used vehicles will be sold in May 2017, for a SAAR of 38.3 million (compared to 3.4 million — or a SAAR of 38.3 million — in April).

More insight into recent auto industry trends can be found in the Edmunds Industry Center at http://www.edmunds.com/industry-center/.

About Edmunds

Edmunds is the leading car information and shopping platform, helping millions of visitors each month find their perfect car. With products such as Edmunds Your Price, Your Lease and Used+, shoppers can buy smarter with instant, upfront prices for cars and trucks currently for sale at more than 13,000 dealer franchises across the U.S. Edmunds' in-house team of unbiased car-shopping experts provide industry-leading vehicle reviews and shopping tips, as well as welcome all car-shopping questions to the free Shopper Advice line at 1-855-782-4711, via email at [email protected], via text at ED411 and on Twitter and Facebook. The company is regarded as one of America's best workplaces by Fortune and Great Places to Work. Edmunds is based in Santa Monica, California, and has a satellite office in downtown Detroit, Michigan.

Contact: Monica Favorite Edmunds.com Corporate Communicationswww.Edmunds.comMedia Hotline: 310-309-4900[email protected]

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SOURCE Edmunds