US Auto Sales Rise in May

General Motors Co, Chrysler Group and Nissan Motor Co on Tuesday reported higher-than-expected U.S. new car sales in May, with consumer demand continuing to gather strength as temperatures rise across the country.

GM and Chrysler said May sales were the best in seven years, and Nissan set a sales record for the month.

GM’s May sales were up 12.6 percent to 284,694, well above the consensus of nine analysts polled by Reuters. All four GM brands reported sales increases, with gains at Chevrolet and GMC driven in part by strong demand for new full-size utility vehicles and pickups.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza