Auto Sales Slowing Won’t Prevent Biggest Year Since 2008: Cars

U.S. auto sales probably ran at the slowest pace of the year in May, a pause in demand before lower gas prices and rebounding production in Japan fuels the most annual purchases since 2008.

May light-vehicle deliveries, to be released tomorrow, may have run at a 12.1 million seasonally adjusted annual rate, the average estimate of 11 analysts surveyed by Bloomberg. The pace exceeded 13 million each of the last three months and was 12.6 million in January, according to researcher Autodata Corp.

Toyota Motor Corp. and Honda Motor Co. are speeding returns to normal production after the March 11 earthquake and tsunami idled factories and created shortages of parts. The slowdown in May sales came about because limited supply of fuel-efficient cars like Toyota's Prius lifted prices and curbed purchases.

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- Posted: 2011-05-31 10:35:53

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