AutoNation Reported Sales in the US Up 11% in May image

AutoNation reported US retail sales up 11% in May, compared with the same month last year.

AutoNation said its retail sales in May increased 11% to 26,372 units, compared with 23,763 units in May 2012. Light-vehicles sales in the US were up 8% last month led by Subaru, Nissan North America, Ford and Chrysler. The largest U.S. dealership group said that same-store retail sales increased 8% to 25,566 units and that the premium luxury vehicle sales jumped 17% to 4,904 units. BMW was up 20% and Mercedes up 13%.

Auto sales of the company’s domestic brands were up 14% to 8,287 units, with Ford up 17%. Import brand vehicle sales increased 7% to 13,181 units, with Toyota up 7%. In Florida, AutoNation’s auto sales were up 8% and 15% in California. During the first five months of the year sales rose 10% to 116,550 units, from 105,746 units during the same period last year.

“We’re still on our way back to something greater than 16 million units,” said AutoNation CEO Mike Jackson said on CNBC’s “Squawk Box”. “The difference this time from the last time we were over 16 million is that the old auto industry needed 16 million just to break even. Today the industry has reinvented itself to where the manufacturers and suppliers are making money at 11 million.”

Source: Autonews