F Ford Motor Company

By Adrienne Roberts 

Two Detroit auto makers on Friday reported an increase in U.S. auto sales for May as demand for sport-utility vehicles and pickup trucks continue to buoy sales despite rising gas prices.

Vehicle sales are expected to show a slight increase in May when car makers post full results later Friday, partly because of one more selling day compared to last year. May is often the biggest sales month of the year for auto sales, with Memorial Day sales driving car shoppers to dealerships to kick off the summer selling season.

Ford Motor Co. reported sales were relatively flat in May, rising 0.5%. The auto maker sold 241,527 vehicles during the month, with an 11% increase in sales of the company's F-Series pickup trucks driving the slight increase.

Fiat Chrysler Automobiles NV reported sales were up in May due to a double-digit increase in sales of the company's Jeep brand vehicles. It said sales were up 11% in May, rising to 214,294 vehicles.

General Motors Co. no longer reports monthly sales, moving to disclose the numbers on a quarterly basis.

SUVs and pickup trucks accounted for about 67% of sales in May, according to J.D. Power, the highest level ever for May. The richer mix of SUVs and pickup trucks -- which carry higher prices than passenger cars -- drove the average transaction price up nearly $1,200 in May compared to last year, while discounts remained flat at about $3,665 per vehicle, J.D. Power said.

The shift toward trucks and SUVs continues unabated even though consumers are paying more at the pump. Regular gasoline surpassed an average of $2.90 a gallon nationally this week, according to the U.S. Energy Information Administration. Prices are expected to continue to rise and could top $3 a gallon through the summer driving season.

Write to Adrienne Roberts at Adrienne.Roberts@wsj.com

(END) Dow Jones Newswires

June 01, 2018 10:29 ET (14:29 GMT)

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