This is how auto sales performed in May over the NAFTA region
While the U.S. auto market kept cooling down in May, sales in Mexico saw a modest growth, but Canada remained strong with another record-breaking month, according to auto dealers associations and industry analysts.
Mexican auto dealers sold 122,916 vehicles during May, a 1.1% increase compared to the same month of 2016. Sales for the first five months of 2017 are up 4.8% compared to the same period a year before, totaling 615,641 units, according to the Mexican Auto Dealer Association (AMDA).
In the U.S. market auto dealers posted in May for the fifth straight month a sales decline compared to the same month a year ago, bolstering expectations for the first annual sales decline since 2009. Auto sales fell 0.5% during May in the United States to 1.52 million, despite an extra selling day compared to a year ago, according to Autodata Corp.
Year-to-date sales are down 2% through the first five months of the year, prompting analysts to lower their forecasts that now appear will fall short of last year’s 17.47 million units record.
In Canada auto sales hit a record high in May, with General Motors and Ford reporting double-digit increases, fueled by demand for crossovers and light trucks.
Automakers sold 216,861 vehicles in May, a number which “smashed all previous monthly records,” and was up 11% compared with the same month a year earlier, Canadian auto analyst Dennis DesRosiers wrote in a note.
Year-to-date auto sales in Canada reached 835,582 units representing a 4.7% increase over the previous year, according to DesRosiers.