May 2023 new-vehicle sales to surge 15.6% year over year as new-vehicle expenditures grow 13% in same period

Total new-vehicle sales for May 2023, including retail and nonretail transactions, are projected to reach 1,337,700 units, a 15.6% increase from May 2022, according to a joint forecast from J.D. Power and LMC Automotive. May 2023 has 25 selling days, one more than May 2022. Comparing the same sales volume without adjusting for the number of selling days translates to an increase of 20.4% from 2022.