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Sales of American-made auto mobiles climbed more than expected last month, with a jump in pick-up trucks attributed to growing demand by contractors for service vehicles as the housing and energy markets enjoy upswings.
Car and truck sales rose 8 percent in May, according to Autodata Corp. That translated to an annualized sales rate of 15.3 million vehicles, beating the 15.1 million that analysts polled by Thomson Reuters forecast.
“The auto industry is doing fantastic,” said Ernie Boch Jr., owner of Norwood-based Boch Motors. “The combination of incredible product that has come out over the last year plus the still-pent-up demand from the economic downturn is fuelling sales.”