Auto sales surge in May as trucks lift industry pace
May auto sales beat expectations with an annual selling rate of 17.8 million, the strongest monthly pace since 2005, aided by easy credit and Memorial Day promotions. Automakers like Fiat Chrysler and GM posted gains while Ford slipped on truck shortages. Toyota and Hyundai faced mixed results as trucks and crossovers drive demand.
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Gas prices may fall to yearly low this summer
AAA says national average gasoline prices stood at 2.75 a gallon on June 1 up 71 cents since January yet still 92 cents below a year earlier. California remains the exception with higher prices due to refinery issues while other states see substantial savings before summer demand lowers prices further.
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Wal-Mart expands pay raises across departments
Wal-Mart raised starting wages for over 100,000 U S department managers and specialized staff including deli workers. The program, part of a $1 billion plan with training and scheduling control, aims to lift service and sales as wages rise to as high as 24 70 per hour for complex roles and 15 per hour from next February for others.
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