TrueCar Inc., the negotiation-free car buying and selling mobile marketplace, projects retail auto sales to consumers will rise 2.4% percent in May from a year ago, buoyed by strong Memorial Day weekend demand.
MarketWatch reported that total volume may fall slightly on lower fleet deliveries, yet the retail uptick indicates sustained industry health.
New vehicle sales, including those to daily rental and commercial fleets, may dip 0.9% to 1,594,700 units this month from 1,608,693 a year ago. Deliveries may increase 2.9% on a daily selling rate (DSR) basis, adjusting for one less selling day compared to May 2014.
Sales during the Memorial Day weekend, typically the peak buying period of the second quarter, were up 7% from a year ago, based on a TrueCar analysis. Automakers’ holiday promotions remain in effect through June 1, owing to an unusually early Memorial Day weekend this year.