Memorial Day Weekend Sales Expected to Boost Industry to 11.4 Million SAAR
This month's new-vehicle sales (including fleet sales) are expected to be 1,080,200 units, a 17.9 percent increase from May 2009 and a 10.8 percent increase from April 2010, according to Edmunds.com.
SANTA MONICA, Calif. — This month's new-vehicle sales (including fleet sales) are expected to be 1,080,200 units, a 17.9 percent increase from May 2009 and a 10.8 percent increase from April 2010, according to Edmunds.com.
Edmunds.com analysts predict that May's seasonally adjusted annualized rate (SAAR) will be 11.4 million, up from 11.2 in April 2010.
May 2010 had 26 selling days, the same as May 2009. The following chart sets forth comparisons for the principal manufacturers between the current month, last month and May 2009:
Change from | Change from | |
Chrysler | 27.7% | 5.2% |
Ford | 22.4% | 16.7% |
GM | 11.7% | 15.8% |
Honda | 22.2% | 3.4% |
Hyundai | 27.5% | 8.5% |
Nissan | 11.3% | 17.9% |
Toyota | 7.5% | 4.6% |
Industry Total | 17.9% | 10.8% |
“This month hasn’t been particularly good for the car business so far, but we anticipate that the holiday weekend will more than make up for it," stated Jessica Caldwell, director of industry analysis for Edmunds.com. "In the last three years, Memorial Day weekend car sales averaged about 40 percent higher than the for non-holiday May weekends, and sales on the last day of May were about 130 percent more than the average sales day."
The combined monthly U.S. market share for Chrysler, Ford and General Motors (GM) domestic nameplates is estimated to be 46.5 percent in May 2010, up from 46.3 percent in May 2009 and up from 45.3 percent in April 2010.
"It should be a great month for the industry, even though Chrysler and Toyota are continuing to pay for past mistakes and Honda is having trouble finding its way," commented Edmunds.com Senior Analyst Michelle Krebs, who details Honda’s recent troubles in an AutoObserver.com report entitled “What’s Wrong at Honda? Maybe Everything.”
Edmunds.com predicts Chrysler will sell 100,500 units in May 2010, up 27.7 percent compared to May 2009 and up 5.2 percent from April 2010. This would result in a new car market share of 9.3 percent for Chrysler in May 2010, up from 8.6 percent in May 2009 but down from 9.8 percent as in April 2010.
Edmunds.com predicts Ford will sell 189,000 units in May 2010, up 22.4 percent compared to May 2009 and up 16.7 percent from April 2010. This would result in a new car market share of 17.5 percent of new car sales in May 2010 for Ford, up from 16.9 percent in May 2009 and up from 16.6 percent in April 2010.
Edmunds.com predicts GM will sell 212,800 units in May 2010, up 11.7 percent compared to May 2009 and up 15.8 percent from April 2010. GM's market share is expected to be 19.7 percent of new vehicle sales in May 2010, down from 20.8 percent in May 2009 but up from 18.9 percent in April 2010.
Edmunds.com predicts Honda will sell 117,600 units in May 2010, up 22.2 percent from May 2009 and up 3.4 percent from April 2010. Honda’s market share is expected to be 10.9 percent in May 2010, up from 10.5 percent in May 2009 but down from 11.7 percent in April 2010.
Edmunds.com predicts Hyundai will sell 80,300 units in May 2010, up 27.5 percent from May 2009 and up 8.5 percent from April 2010. Hyundai’s market share is expected to be 7.4 percent in May 2010, up from 6.9 percent in May 2009 but down from 7.6 percent in April 2010.
Edmunds.com predicts Nissan will sell 75,100 units in May 2010, up 11.3 percent from May 2009 and up 17.9 percent from April 2010. Nissan's market share is expected to be 7.0 percent in May 2010, down from 7.4 percent in May 2009 but up from 6.5 percent in April 2010.
Edmunds.com predicts Toyota will sell 163,900 units in May 2010, up 7.5 percent from May 2009 and up 4.6 percent from April 2010. Toyota's market share is expected to be 15.2 percent in May 2010, down from 16.6 percent in May 2009 and down from 16.1 percent in April 2010.
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