May was a huge month for auto sales.
According to AutoData, the pace of sales jumped to an annualized rate of 16.8 million units, the fastest since February 2007.
This smoked analysts’ expectations for a 16.1 million level.
Almost every major auto company blew away expectations handily.
Chrysler said auto sales jumped 17% in May, beating expectations for a 14% increase.
GM said sales surged 12.6%, crushing expectations for just 6.4% growth.
Ford said sales unexpectedly climbed by 3.0%. Analysts were looking for a 0.2% decline.
These sales results are just the latest in a series of economic indicators signaling a snapback in economic activity following the unusually harsh winter.
Here’s a tally of May sales stats: