The U.S. auto industry remained on track for the best sales year in a decade as consumers bought cars and trucks in May at the fastest pace in almost a decade.
Sales of pickup trucks and SUVs again led the way, which bodes well for the profit margins of the major automakers.
General Motors Co forecast industry U.S. sales to finish May at a seasonally adjusted annualized rate of 17.6 million vehicles, the strongest pace since January 2006.
GM sales rose 3 percent in May, while Fiat Chrysler Automobiles’ increased 4 percent.
Ford Motor Co sales fell 1 percent as its F-Series pickup trucks declined 10 percent. Its primary model, the F-150 pickup truck, remained in high demand and the company said it is reducing downtime at two plants this summer as it ramps up production of a new aluminum version.
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