-
Crowded Car Lots Spur Discounts, But Auto Sales Keep Slipping
Carmakers rolled out big discounts in May aimed at clearing inventory, but Memorial Day promotions probably still failed to stem the tide of a shrinking U.S. auto market. The seasonally adjusted annualized rate of sales probably slowed to 16.9 million cars and light trucks this month, according to the average estimate in a Bloomberg News survey, from 17.2 million in May 2018. Most major automakers will release results on Monday; General Motors Co. and Ford Motor Co. report results on a quarterly basis. Key Insights May will be a bellwether for the severity of the slowdown plaguing the industry now facing a fresh ... (full story)