A sharp rise in incentives at some brands amid the industry’s ongoing inventory recovery fueled a jump in U.S. light-vehicle sales last month, according to an Automotive News report.
Deliveries rose 21 percent to around 720,000 vehicles for the seven automakers that report monthly figures. American Honda was among the big winners, notching a 58 percent gain, while Subaru of America posted a 28 percent increase.
May marked the industry’s 10th consecutive monthly sales increase, according to LMC Automotive, as it continues to bounce back from supply chain challenges that dogged automakers last year.
The latest results were helped by favorable year-earlier comparisons, when the inventory shortage was at its worst. Retail inventory entered June at around 1.3 million vehicles, up 48 percent from a year earlier, according to estimates from J.D. Power and LMC Automotive.
Read the full Automotive News report.
Source: https://rvbusiness.com/rising-incentives-inventory-helped-boost-auto-sales-in-may/
