U.S. April 2006 Auto Sales at 16.7 Million Annual Rate

DETROIT, May 2, 2006; Reuters reported that the U.S. light vehicle market contracted slightly to 16.7 million units on a seasonally adjusted, annualized basis in April, compared with 17.24 million units on the same basis a year earlier, industry tracking firm Autodata Corp said on Tuesday.

Autodata issued that preliminary estimate, which is widely tracked as a proxy for the strength of the market and U.S. consumer demand, on the basis of sales figures for all makes except for Kia, Rolls Royce and Maybach. It said it would provide a final tally later on Tuesday.

The monthly sales performance was at the low end of analysts' expectations for and came as rising gas prices cut into sales of sport-utility vehicles and trucks.