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Automotive Consumer
AUTOS: Modest U.S. Sales Gain For February
The harsh winter along with rising taxes and fuel prices slowed the pace of the auto-industry recovery to a 4 percent gain compared with February 2012.
Ford Explorer enjoyed a 59 percent boost over last February's sales. (Photo: Ford)
U.S. light-vehicle sales rose a modest 4 percent to 1.19 million units last month, with Volkswagen AG, Ford Motor Co. and General Motors setting the pace as automakers overcame severe winter weather, higher taxes and rising gasoline prices to keep the industry's recovery on track.
The results were in line with analysts' forecasts and marked the second consecutive February – traditionally a weak month – that sales have topped 1 million units.
Industry sales have now advanced 8 percent through the year's first two months, an encouraging sign as automakers approach the crucial spring selling season.
Light trucks led the industry last month with sales of crossovers, minivans and pickups rising 8 percent to 574,807 while car deliveries edged up slightly to 617,492 units.
"Despite rising gas prices, severe winter storms and concerns about the federal budget, February was a good indication of the overall strength of the market," said Bill Fay, group vice president and general manager of the Toyota division, where sales rose 5 percent.
The seasonally adjusted sales rate for February, 15.36 million, is slightly above January's 15.28 million rate and is up significantly from the 14.47 million sales pace in February 2011. It is the fourth consecutive month the SAAR has topped 15 million, the first such stretch in five years.
The SAAR remained above 15 million units every month for nearly 10 years until the streak was snapped in early 2008, just ahead of the industry's collapse.
For the second consecutive month, Ford and GM gained market share after losing ground in 2012. Robust car and SUV demand led Ford to a 9 percent increase in February volume, its fourth consecutive monthly gain. GM's deliveries rose 7 percent, its sixth straight monthly increase, with large trucks and SUVs driving much of the company's latest results.
"The housing sector has now joined auto sales in propelling the U.S. economy forward," Kurt McNeil, head of U.S. sales operations for GM, said in a statement. "More importantly, the recovery in new home construction is reinforcing the underlying improvement in auto buying conditions, especially for pickups."
GM's four brands each posted higher sales, with Cadillac volume rising 20 percent; Buick, 15 percent; GMC, 10 percent; and Chevrolet, 5 percent.
Ford said SUV deliveries rose 21 percent, paced by a 59 percent surge in Explorer volume, while car sales rose 6 percent. Sales at the Ford division rose 11 percent, while Lincoln volume skidded for a sixth straight month, down 29 percent.
The results were in line with analysts' forecasts and marked the second consecutive February – traditionally a weak month – that sales have topped 1 million units.
Industry sales have now advanced 8 percent through the year's first two months, an encouraging sign as automakers approach the crucial spring selling season.
Light trucks led the industry last month with sales of crossovers, minivans and pickups rising 8 percent to 574,807 while car deliveries edged up slightly to 617,492 units.
"Despite rising gas prices, severe winter storms and concerns about the federal budget, February was a good indication of the overall strength of the market," said Bill Fay, group vice president and general manager of the Toyota division, where sales rose 5 percent.
The seasonally adjusted sales rate for February, 15.36 million, is slightly above January's 15.28 million rate and is up significantly from the 14.47 million sales pace in February 2011. It is the fourth consecutive month the SAAR has topped 15 million, the first such stretch in five years.
The SAAR remained above 15 million units every month for nearly 10 years until the streak was snapped in early 2008, just ahead of the industry's collapse.
For the second consecutive month, Ford and GM gained market share after losing ground in 2012. Robust car and SUV demand led Ford to a 9 percent increase in February volume, its fourth consecutive monthly gain. GM's deliveries rose 7 percent, its sixth straight monthly increase, with large trucks and SUVs driving much of the company's latest results.
"The housing sector has now joined auto sales in propelling the U.S. economy forward," Kurt McNeil, head of U.S. sales operations for GM, said in a statement. "More importantly, the recovery in new home construction is reinforcing the underlying improvement in auto buying conditions, especially for pickups."
GM's four brands each posted higher sales, with Cadillac volume rising 20 percent; Buick, 15 percent; GMC, 10 percent; and Chevrolet, 5 percent.
Ford said SUV deliveries rose 21 percent, paced by a 59 percent surge in Explorer volume, while car sales rose 6 percent. Sales at the Ford division rose 11 percent, while Lincoln volume skidded for a sixth straight month, down 29 percent.
The Lyonheart K
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