US May auto sales not as bad as expected

CHICAGO/DETROIT: US auto sales fell nearly 34 percent in May from a year earlier, but aggressive discounting helped steady results for the battered industry, according to monthly results.

Industry-wide auto sales for the month reached nearly 10 million units on an annualized basis - a better result than most economists had expected with the industry reeling from auto bankruptcies.

Chrysler spent all of May in bankruptcy after filing for court protection on April 30, while General Motors Corp prepared for a well-telegraphed bankruptcy filing throughout the month before initiating the process on Monday.