Winter Weather Dents GM, Ford Auto Sales

by Christopher Freeburn | March 3, 2014 11:45 am

[1]Snow and ice across much of the U.S. throughout February put a chill in some automakers monthly sales[2].

General Motors (GM[3]), the largest U.S. car-maker, reported sales of 222,000 cars and trucks during the month. GM noted that its February sales were down about 1% from the same time last year. The Chevrolet Cruze was a bright spot for GM, posting a 22% jump in sales, the Associated Press notes.

Ford (F[4]) saw vehicle sales sink 6.1% to 184,000 cars in February. Ford’s car sales plunged 14% during the month, while SUV sales sank 4%. However, its F-Series pickups notched an almost 3% gain.

Japanese giant Toyota (TM[5]) reported U.S. vehicle sales of 159,000 units, down 4% in February.

German car-maker Volkswagen (VLKAY[6]) said its sales tumbled 14% during the month.

The news was a lot better at Fiat’s (FIATY[7]) Chrysler, which said it sold 155,000 vehicles last month, up 11%.

Nissan (NSANY[8]) also had a good month despite the bad eather with sales jumping 16% to more than 115,000 vehicles.

GM stock fell modestly in Monday morning trading, while Ford stock dropped 2% and Toyota shares slipped more than 1%. GM stock has gained more than 30% over the past year. During the same time, Ford stock has gained 20% and Toyota shares are up 12%.

Source URL: https://investorplace.com/2014/03/winter-weather-dents-gm-ford-auto-sales/

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