May Auto Market Report: Trends & Challenges in Automotive (PDF)
The automotive market experienced a series of ups and downs in the month of May, with notable declines and minimal increases across various segments. As we delve into the market report for May, we observe a shift in trends and fluctuations that reflect the current state of the industry. Let’s explore the performance of the Car Truck & SUV segments in detail.
| Wholesale Price Changes by Segment | ||||
| Segment | Week ending 4/29 | Week ending 5/6 | Week ending 5/13 | Week ending 5/20 |
| Car | +0.27% | -0.06% | -0.15% | -0.16% |
| Truck & SUV | +0.17% | -0.12% | -0.16% | -0.12% |
| Market | +0.20% | -0.10% | -0.15% | -0.13% |
Car Segment
In the last week of April, the Car segment showed a promising increase of 0.27%. Out of the nine segments, six reported growth, with Sporty Car leading the way with a remarkable 0.81% increase. This positive trend continued for 15 consecutive weeks, signaling the segment’s resilience.
However, as May progressed, the Car segment faced overall declines. While Sporty Car continued to climb, albeit at a slower rate, Sub-Compact Car experienced significant declines. By the final week of May, the Car segment witnessed a decline of 0.16%. Only two segments managed to show minimal increases, while Sub-Compact Car reported its largest decline since early February, highlighting a challenging period for this particular segment.
Truck & SUV Segment
The Truck segment, which includes SUVs, displayed a positive trend in the last week of April with an overall increase of 0.17%. Out of the thirteen segments, nine showed gains, indicating a healthy market performance.
However, as May unfolded, the Truck segment encountered fluctuations and declines. The first week of May saw a decline of -0.12%, with only four segments reporting increases. This downward trend persisted with a -0.16% decrease in the second week and a further -0.12% decrease in the third week. Full-Size Van experienced its most significant decline since July 2022 during this period.
By the end of May, the Truck segment registered an overall decline of -0.12%, with ten segments reporting decreases. Only a few segments managed to display gains, showcasing the challenges faced by this segment in the market.
Navigating the Changing Automotive Landscape
The May Auto Market Report reflects a mixed performance in the automotive industry, with declines observed across several segments while a few segments managed to show minimal increases. The Car segment faced overall declines, with Sporty Cars being the exception as it continued its positive trend, albeit at a slower rate. On the other hand, the Truck & SUV segment experienced fluctuations and declines throughout May, with only a limited number of segments showcasing growth.
As the market moves forward, it will be crucial to closely monitor these trends and fluctuations to gain insights into the evolving dynamics of the automotive industry. The performance of various segments provides valuable information for both industry professionals and consumers alike, allowing them to make informed decisions in this ever-changing market landscape.
