U.S. light-vehicle sales surged in May as customers waiting for further improvement to already generous incentives returned in droves to take advantage of better deals. May’s seasonally adjusted annual rate (SAAR) of 17.8 million was the best so far this year. It was well above April’s 16.4 million, the previous 2004 best of 16.6 million in March and year-ago’s 16.3 million. It also lifted the year-to-date SAAR to 16.7 million, much higher than year-ago’s January-May pace of 16.1 million. ...

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