May Auto Sales, Profits on the Rise
June 2, 2014—May auto sales may beat a seasonally adjusted annual rate of 16 million for the third month in a row, Forbes reported over the weekend.
The recent growth—combined with five years of slow but steady growth—could bring sales back to pre-recession volumes, Forbes said.
Profits are also on the rise, led by Chrysler Group, which expects to see $690M in 2014. The automaker’s high profits are largely thanks to what they call, “infrequent items,” according to Forbes.
All automakers are expected to announced May sales on Tuesday.