Automakers recorded strong US sales last month, pulling away from January’s slowdown at the best pace since 2000. Ford Motor Co, Fiat Chrysler Automobiles NV, Honda Motor and Nissan Motor Co had double-digit percentage increases.
Sport utility vehicles (SUV) and pickup trucks were again hot sellers as cheap gasoline prices drove buyers to fuel guzzlers.
Last month, total US sales climbed 6.9 percent year-on-year to 1.34 million vehicles, according to Autodata, in line with estimates. The pace of sales was an annual rate of 17.54 million, up 7 percent annually.
Ford, the No. 2 US automaker, last month posted a 20.4 percent year-on-year increase, with 217,192 vehicles sold, well above expectations.
Ford said its Ford brand SUV sales last month set a company record, totaling 65,016 units, up 28 percent from a year ago. F-series pickup truck sales were robust, too, rising 10 percent, the best performance in a decade.
“We saw a solid industry last month and a strong month for Ford, as customer demand for our newest vehicles — including new high-end series on Explorer and Edge — helped Ford increase its average transaction prices at almost double the industry average,” Ford US marketing, sales and service vice president Mark LaNeve said.
FCA US LLC, the US arm of Fiat Chrysler Automobiles, said US sales jumped 12 percent to 182,879 units, topping forecasts.
Jeep brand sales last month advanced 23 percent, with Jeep Cherokee, Wrangler, Patriot and Compass models racking up their best February ever.
Five other brands set records in the month, including the Ram pickup truck and van, and the Dodge Journey crossover.
The largest US automaker, General Motors Co (GM), said sales last month fell 1.5 percent year-on-year to 227,825 units, dragged lower by a 39 percent drop in rental deliveries.
“Our strategy is simple; grow profitable retail share while maintaining discipline with inventory levels and incentive spending, while reducing rental deliveries,” GM US sales operations vice president Kurt McNeil said in a statement.
In the retail market, GM’s sales of cars and trucks rose 6.6 percent to 179,958. GM said its Chevrolet brand last month remained the auto industry’s fastest-growing full-line brand, with sales rising 13 percent.
Sales of luxury brand Cadillac rose 4.2 percent, but GMC sales dropped 8.3 percent and Buick fell 1.9 percent.
Following January’s bout of wintry weather, automakers last month rolled out promotions and rebate offers, particularly around the Presidents’ Day holiday on Feb. 15.
Holiday-linked rebates averaged US$175 per vehicle, analysts said.
Toyota, the world’s largest automaker, said US sales rose 4.1 percent to 187,954 vehicles.
“The Toyota division had back-to-back, best-ever light truck monthly records, supported by another best-ever month in February for RAV4,” Toyota US sales general manager Bill Fay said.
Honda last month scored a year-on-year rise in sales of 12.8 percent, shifting 188,985 Honda and Acura vehicles, while Civic sales revved up 31.7 percent.
Nissan’s US sales last month climbed 11 percent year-on-year to 130,911 units, a record for February. Sales of Nissan crossovers, trucks and SUVs also set a February record, increasing 14 percent.
Volkswagen AG, mired in an emissions cheating scandal that has spurred multiple probes and lawsuits in the US, said US sales tumbled 13.2 percent to 22,321 units, although luxury brand Audi had a modest gain.
After last year’s record-breaking sales, so far this year the US auto market seems to be setting up for another banner year, Edmunds.com analyst Jeremy Acevedo said.
Sales reports from manufacturers followed Friday last week’s January personal income and spending report, which included a 0.4 percent month-on-month rise in consumer spending, Barclays analyst Jess Hurwitz said.
“On net, these data bolster our confidence that solid household spending will keep US growth on track,” he said.
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