U.S. Market Enjoys Higher Than Expected Bounce in May

The jump in U.S. light-vehicle sales was higher than expected in May, besting April’s total by 13% on a daily-rate basis (each month with 26 selling days) and trailing year-ago by just 31%.

The performance marked the lowest year-over-year decline since September 2008. May’s 35,500-unit daily selling rate also was the highest since September.

May’s volume of 923,346 light vehicles broke a 7-month streak of sub-900,000-unit sales. However, last month was the ninth straight ...