Used Car Sales Spike

"True Car estimates used car sales will come in at 4,387,554 this month, up 6.3 percent from May 2011 and up 15.7 percent from April.

The ratio of new to used is estimated to be 1:3 for May.

New light vehicle sales, (including fleet) is expected to be 1,400,665 units, up 32 percent fromMay 2011 and up 18.3 percent fromApril (on an unadjusted basis).

The May forecast translates into a Seasonally Adjusted Annualized Rate (SAAR) of 14.5 million new car sales, up from 11.7 million in May 2011 and flat from 14.5 million in April.

Retail sales are up 29.4 percent compared to May 2011 and up 21.1 percent from April." [Read more]