Auto sales in the U.S. increased in May due to easy-to-get loans and cheap gasoline. U.S. auto sales reached 17.79 million in May on a seasonally adjusted annualized basis, the highest since summer 2005.

The increase was driven by sales of pickup trucks and SUVs.

GM sales climbed 3% in May, Fiat Chrysler Automobiles' sales increased 4%, Ford Motor Co sales decreased 1%, Toyota Motor Corp and Nissan Motor Co both declined less than 1%, while Honda Motor Co sales jumped 10.6%.