US Automakers See Sales Increase in May

Some actual good news for the auto industry: All three US automakers saw sales of new cars jump from April to May, reports the New York Times. Granted, sales are still way down compared to last year, but the month-to-month leap offers a glimmer of hope among the bankruptcy headlines. Ford did  best, with sales up 20% from April and down 24% from the previous May, the smallest yearly decline among all major automakers since October.

GM sales rose 11% in May, down 30% from the previous year, while Chrysler saw a 3% monthly increase and a 47% year-to-year decrease. Toyota and Honda each reported 41% declines in May, while Nissan sales fell 33%. In the industry overall, sales rose 13% in May but were down 34% from last year, the eighth consecutive month year-to-year sales have fallen more than 30%.
(More Ford stories.)