US car sales hit 9-year high in May

Buoyant demand for SUVs and pickups pushed US car sales to a 9-year high in May this year. Chrysler, Nissan and Toyota had double-digit sales gains over the previous year. Even General Motors, fighting its competitors, posted an astonishing 13 percent increase in sales.

Ford's sales were up 3 percent, while Hyundai's were up 4 percent. Among the major automakers, sales fell only at Volkswagen. Automakers see May as a traditionally strong month for the auto industry, as buyers spend their tax money and think about upcoming summer travel.

This year, the presence of five weekends in May gave an additional boost. Sales were particularly strong over the last weekend of the month. According to statistics, sales rose 11 percent to 1.6 million in May. This is the highest monthly level since July 2005. The surge in sales helped erase doubts about the future of the industry. January and February showed weaker than expected sales as consumers spent more time clearing snow than shopping.

Jeff Schuster, vice president of forecasting, said the "recovery is due to the summer vacation season." The analyst believes June should have the same effect. The growth in sales was fueled by the accumulated demand during the winter, but it is likely to be strong in the summer months because there are other factors, including low interest rates on loans.