Net income in the quarter jumped 4.3% to $229 million or 97 cents per diluted share compared to $206.6 million or $1 per share from the same quarter previous year.
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Ford’s sales rose 20 percent over last February, while Fiat Chrysler’s were up 12 percent.
“Growing sales and share continues to be the Ram Truck brand’s priority”, the company said in a statement.
Ram recorded its best February sales ever and saw the largest gain among FCA brands, with 41,890 vehicles sold, up 26% on a daily basis compared with a year ago, WardsAuto data shows.
Nissan Motor Co sales rose 10.5 percent despite a decline of 11 percent in its luxury brand, Infiniti. Hyundai’s sales rose 1 percent.
Sam Bullard, a Wells Fargo economist, said “Consumers, while still cautious overall, are confident enough in their own personal economic situation and the outlook to be able to purchase a auto”, Bullard said.
FCA US, the US arm of Fiat Chrysler Automobiles, said US sales jumped 12 per cent to 182,879 units, topping forecasts. Both reported sales increases of 23 per cent. The company’s truck sales rose 27 per cent, but its vehicle sales fell by the same percentage.
The analysts project the company to maintain annual growth of around 46.75 percent over the next five years as compared to an average growth rate of 14.57 percent expected for its competitors in the same industry. The month is rated as a 71st straight month for sales growth.
The Italian-American automaker said that it sold just under 183,000 cars and trucks last month for its best February in a decade.
Honda scored a 12.8 percent rise year-on-year, at 188,985 Honda and Acura vehicles.
Many industry analysts have said they eventually expect a tapering of the auto recovery, which has been ongoing since the 2008-2009 recession.
The positive trend in February was reflected in auto sales of Orange County-based brands. Of course, that’s not the only factor that caused the surge in vehicle sales.
Fiat sales were down 9 percent to 2,993 units.
“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 nearly double the industry average”, said Mark LaNeve, Ford vice president of USA marketing, sales and service.
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Ram’s gains included an 83 percent increase for the ProMaster Van and 1,763 Promaster City commercial vans – a sign FCA’s strategy to boost commercial vehicle sales is gaining traction.
