US auto sales in May 2024
US light-vehicle sales ran at a seasonally adjusted annual rate (SAAR) of 15.96 million in May 2024, up 0.09 million (0.6%) from April 2024, and up 3.4% from May 2023. That was the fastest selling pace since June 2023. About 1.43 million new cars and light trucks were sold during the month (actual units, not seasonally adjusted), 5.0% more than in May 2023. Through May, 6.48 million have been sold in 2024, up 3.2% from the same months of 2023. Light trucks — pickups, SUVs, crossovers and vans — made up 81.3% of light-vehicle sales, compared with 79.9% a year earlier.
Sales breakdown
| May 2024 | Value | A year earlier | Change |
|---|---|---|---|
| Light vehicles, SAAR | 15.96M | 15.44M | +3.4% |
| · Cars (autos), SAAR | 2.98M | — | -3.9% |
| · Light trucks, SAAR | 12.98M | — | +5.2% |
| Heavy trucks, SAAR | 467K | 536K | -12.9% |
| Units sold in the month | 1.43M | 1.36M | +5.0% |
| Units sold, year to date | 6.48M | 6.28M | +3.2% |
| US assemblies, cars & light trucks, SAAR | 10.56M | 11.06M | -4.5% |
| Dealer & parts-store sales (month) | $131.0B | — | -3.1% |
SAAR = seasonally adjusted annual rate. Heavy trucks = total vehicle sales minus light vehicles (BEA's definition). Units sold are actual sales in the month, not seasonally adjusted.
Cars vs light trucks
Prices
| CPI, May 2024 | 12-mo | 1-mo |
|---|---|---|
| New vehicles | -0.8% | -0.2% |
| Used cars & trucks | -9.3% | +0.5% |
| Maintenance & repair | +7.2% | +0.3% |
Consumer price index for all urban consumers (BLS), not seasonally adjusted; red = costs rising for buyers. The CPI for a month is released mid-way through the next month, so it can trail the sales data.
Over the 12 months to May 2024, according to the consumer price index, new-vehicle prices fell 0.8%, used-car and truck prices fell 9.3% and maintenance and repair costs rose 7.2%.
Financing & inventories
Average finance rate on new-car loans at commercial banks (Federal Reserve G.19), surveyed in the middle month of each quarter; latest 2024-05.
May 2024 vs May 2023
Frequently asked questions
What was the US auto sales SAAR in May 2024?
US light-vehicle sales ran at a seasonally adjusted annual rate (SAAR) of 15.96 million in May 2024, up 0.09 million (0.6%) from April 2024, and up 3.4% from May 2023. That was the fastest selling pace since June 2023.
How many cars were sold in May 2024?
About 1.43 million new cars and light trucks were sold during the month (actual units, not seasonally adjusted), 5.0% more than in May 2023.
Sources: U.S. Bureau of Economic Analysis (vehicle unit sales), U.S. Bureau of Labor Statistics (consumer prices), Federal Reserve Board (G.19 auto loan rates, G.17 assemblies), U.S. Census Bureau (dealer sales), all via FRED, Federal Reserve Bank of St. Louis. Figures are revised by the agencies; this page shows the latest published values. Data checked Nov 6, 5:41 PM ET. Not investment advice.