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New-car sales see 10 percent jump in May

New-car sales in Monroe County rose dramatically in May, Rochester Automobile Dealers’ Association Inc. reported.

Some 4,586 new cars and trucks were registered in Monroe County last month, up more than 10 percent from 4,164 in May 2016. The May total was up nearly 13 percent from 4,076 in April.

From April to May, car dealers typically see an increase in new-car sales, although some years—2012 and 2016, for example—sales remain relatively flat, RADA historical data shows.

The American International Automobile Dealers Association reported that while both gas and credit remain cheap in 2017, auto sales appear to be plateauing. Incentives are up 33 percent from May 2016 and transaction prices also are rising as consumers opt for pricier light trucks over cars. Truck sales were up 6 percent from a year ago, while car sales fell 9.3 percent in May.

Industrywide, 1.52 million light vehicles were sold in May, up from 1.43 million in April, but down from 1.53 million units in May 2016. Asian brands represented the largest slice of the U.S. auto market in May, capturing 47 percent of auto sales. Domestics accounted for 44.2 percent of new-vehicle sales in the U.S. last month.

Locally, new-car sales continue to outpace 2016 sales. Area dealers have sold 19,708 vehicles this year, compared with 18,738 in the first five months of 2016.

RADA does not report used-car sales.

Follow Velvet Spicer on Twitter: @Velvet_Spicer

(c) 2017 Rochester Business Journal. To obtain permission to reprint this article, call 585-363-7269 or email madams@bridgetowermedia.com.

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