Auto sales hit a record in May, reaching the strongest monthly pace at an annual rate of 17.8 million since July 2005, according to Autodata. The industry is looking at six consecutive years of growth, with no immediate signs of slowing down.
"Sales are red hot right now," said Consumer Reports Deputy Auto Editor Jeff Bartlett. "It's not surprising because there was such a glut of sales just a few years ago. So it's nice to see this economic market really coming to life."
What are consumers buying? Due to low gas prices, pickups, SUVs and crossover vehicles are very popular and automakers with a strong lineup in these categories are seeing success. Fiat Chrysler sales rose 4 percent in May compared to a year ago, while General Motors was up 3 percent.