U.S. automobile sales are expected to decline 1 percent year-over-year in May, according to a report.
May 31, 2018—U.S. automobile sales are expected to decline 1 percent year-over-year in May, according to a report by the Reuters news service.
Retail sales of new vehicles in May were projected at 1.27 million units; the forecast was based on the first 17 selling days of May. Consumers are expected to spend $41.1 billion on new vehicles for the month, roughly $2.7 billion higher than last year, as prices rise.
The average new vehicle retail transaction price in May was $32,380, surpassing the prior May high of $31,188 set last year.
Both J.D. Powers and LMC Automotive consulted on the Reuters report.
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