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More 'new car smell' on the way

Recovery in automotive markets quicker than expected

Gazette staff June 1st, 2011

Nearly 12 million new cars are expected to be sold for the month of May, estimates TrueCar.com, which tracks and forecasts vehicle trends.

“Inventory constraints finally hit the Japanese automakers this month but the recovery in supply appears quicker than first anticipated,” said Jesse Toprak, vice president of industry trends and insights for TrueCar.com.

The firm also found that used car sales will end at an estimated 3,814,291 in May, representing an increase of 3.4 percent from April, but down 8.9 percent from May 2010.

The ratio of new to used cars sold is estimated to be 1-4 for May 2011. —Gazette staff

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