Auto industry optimistic after 30 percent jump in May sales - New York News

Auto industry optimistic after 30 percent jump in May sales

Posted: Updated:

May is projected to be a big month for the auto industry, and a 30 percent jump in new car sales when compared to last year has many feeling positive -- especially since that's a key indicator of consumer confidence and economic strength.

New vehicle sales are so hot, the biggest issue at Roseville Midway Ford is inventory because they are literally running out of popular models. Tom Kulick, the sales manager, says momentum shifted into overdrive earlier this spring -- and it's been a smooth ride since.

"It started in March. We had a really good march -- really good April," he said. "May is continuing that trend."

Analysts project a big jump in new car sales this month compared to a year ago. Nationally, auto dealers moved 1.06 million vehicles in May 2011. This year, that number is expected to top 1.37 million.

Some of that jump can be attributed to the impact of the earthquake in Japan that disrupted the global auto industry, but favorable conditions here at home also help.

"It's still a good time because interest rates are so low," explained Scott Lambert, of the Minnesota Auto Dealers Association. "Used car values are still high. It's a good time to trade in a car. All those factors make the car industry strong relative to the economy."

  • Local NewsLocal NewsMore>>

  • LL Cool J stays true to hip hop roots

    LL Cool J stays true to hip hop roots

    Friday, August 1 2014 10:38 PM EDT2014-08-02 02:38:22 GMT
    EXCLUSIVE -- LL Cool J grew and evolved from a hip hop artist out of Hollis, Queens, to a Hollywood TV and movie star. But he always stayed true to hip hop culture. We'd see him backstage at concerts just hanging out with us, so when I heard he was back in New York for the summer I had to find out why. I tracked him down to a Midtown Manhattan recording studio for this exclusive interview.
    EXCLUSIVE -- LL Cool J grew and evolved from a hip hop artist out of Hollis, Queens, to a Hollywood TV and movie star. But he always stayed true to hip hop culture. We'd see him backstage at concerts just hanging out with us, so when I heard he was back in New York for the summer I had to find out why. I tracked him down to a Midtown Manhattan recording studio for this exclusive interview.
  • Friday Night Live: August 1, 2014

    Friday Night Live: August 1, 2014

    Friday, August 1 2014 10:28 PM EDT2014-08-02 02:28:04 GMT
    This is Fox 5's Friday Night Live, a weekly celebration of the end of the work week. All summer long, the Fox 5 team brings you the latest in entertainment, nightlife, food, and music in our area. In this jam-packed episode: an exclusive interview with superstar LL Cool J, a helicopter tour over New York City, dishing on celebrity relationships, and sexier breakfast with Chef Mark Bailey.
    This is Fox 5's Friday Night Live, a weekly celebration of the end of the work week. All summer long, the Fox 5 team brings you the latest in entertainment, nightlife, food, and music in our area. In this jam-packed episode: an exclusive interview with superstar LL Cool J, a helicopter tour over New York City, dishing on celebrity relationships, and sexier breakfast with Chef Mark Bailey.
  • Central Park underwear run

    Central Park underwear run

    Friday, August 1 2014 10:16 PM EDT2014-08-02 02:16:48 GMT
    Raw athleticism streaked through Central Park Friday evening bared for a modest body of spectators. Two-hundred triathletes ran a skimpy 1.7-mile loop in their underwear to flesh out the opening festivities of New York City Triathlon weekend.Midriffs and tan lines rippled in the open air and a not-so-tighty finish saw the first male and the first female finishers undress the course in record time.
    Raw athleticism streaked through Central Park Friday evening bared for a modest body of spectators. Two-hundred triathletes ran a skimpy 1.7-mile loop in their underwear to flesh out the opening festivities of New York City Triathlon weekend.Midriffs and tan lines rippled in the open air and a not-so-tighty finish saw the first male and the first female finishers undress the course in record time.
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices