03.06.201304:55:34UTC+00Stocks to check out: Ford, General Motors to release auto sales

Ford Motor Co. and General Motors Co. are expected to take center stage in the market on Monday with automakers scheduled to release May sales data.

U.S. auto sales are projected to bolster by 6.5% on-year to 1.42 million cars and trucks in last month for a seasonally adjusted annual rate of 15.1 million vehicles, according to Edmunds.com.

Total SAAR had dipped to 14.92 million in April from 15.27 million in March.

“May sales quickly chased away any of last month’s concerns that the auto recovery is stalling. This quick rebound is just another example of how the auto industry is currently one of the most resilient areas of the overall economy,” Jessica Caldwell, a senior analyst at Edmunds.com, said in a statement.

GM is likely to lead the pack with 250,007 vehicles sold, up 1.9% from a year earlier. Ford is estimated to have sold 243,782 units, a 13% increase from May 2012 while Toyota Motor Corp. is expected to report sales slipped 0.2% to 202,482, according to Edmunds.com.

“We spoke with several contacts in the steel industry who indicated that automotive end-market demand remained strong in May (up low-single-digits YoY), although momentum and YoY growth may have peaked,” Peter Nesvold, an analyst at Jefferies, said in a note.

Meanwhile, retail sales, which excludes fleet transactions, are likely to come in at 1.16 million for a SAAR of 12.5 million, the highest since January, according to J.D. Power.