U.S. Automakers Post February Sales Gains

by Christopher Freeburn | March 1, 2013 11:00 am

Auto Cars Transportation 300x199 U.S. Automakers Post February Sales Gains[1]February was a good month for domestic car sales. All three U.S. automakers posted year-over-year sales increases[2].  General Motors (NYSE:GM[3]) estimates that February vehicle sales hit an annualized rate of 15.5 million units. That tops that 15.1 million sales rate anticipated by economists, Reuters noted.

Ford (NYSE:F[4]) posted its highest February sales in six years, up 9.6% over the same time last year. Still, that fell short of the 15.6% year-over-year gain that analysts were looking for. The company said that sales of its trucks rose 4% compared to last year, while utility vehicle sales soared 21% and car sales increased 6%. Sales of its popular Fusion line of cars jumped 28% compared to last year.

GM said that its U.S. vehicle sales surged 7% in February, compared to last year. The largest U.S. auto maker sold 224,314 vehicles last month with sales of its Chevrolet Silverado trucks soaring 30% and mid-sized crossover vehicle sales rising 16%.

Chrysler, owned by Italy’s Fiat (PINK:FIATY[5]), announced that U.S. sales of vehicles during February climbed 4% over the previous year, hitting 139,015. That marked the company’s highest February sales in five years, but fell just shy of the 140,159 vehicles that Wall Street had expected it to sell.

Germany’s Volkswagen (PINK:VLKAY[6]) also posted a modest sales rise during the month[7], USA TODAY noted. The Jetta and Passat-maker sold 31,456 vehicles in the U.S. in February, up 2.9% from last year.

Shares of General Motors and Ford rose fractionally on Friday morning, while Fiat and Volkswagen slipped about 2% and 3%, respectively, in over-the-counter trading.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/05/Auto-Cars-Transportation.jpg
  2. posted year-over-year sales increases: http://www.nbcnews.com/business/gm-auto-sales-beat-estimates-while-ford-lags-1C8636739
  3. GM: http://studio-5.financialcontent.com/investplace/quote?Symbol=GM
  4. F: http://studio-5.financialcontent.com/investplace/quote?Symbol=F
  5. FIATY: http://studio-5.financialcontent.com/investplace/quote?Symbol=FIATY
  6. VLKAY: http://studio-5.financialcontent.com/investplace/quote?Symbol=VLKAY
  7. posted a modest sales rise during the month: http://www.usatoday.com/story/money/cars/driveon/2013/03/01/vw-auto-sales-february-2013/1952151/

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