Fiat Chrysler Automobiles said on Tuesday that its USA sales rose 12%, powered by strong gains by its Jeep and Ram brands. Nissan’s sales rose almost 11 percent and Toyota’s were up 5 percent.
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General Motors said its sales fell 1.5 percent, partly because of a 39 percent cut in rental sales.
Fiat Chrysler, the first big automakers to post sales, saw its sales of the Chrysler 200 sedan drop by 58% as the brand dripped 26% despite gains from its minivan Town & Country.
Major automakers are expected by economists and industry analysts to post a sales rise of 7 percent to 9 percent from a year ago. One factor: Super Bowl ads.
“The industry will use any holiday to pick up the megaphone and let people know they have vehicles for sale”, Michelle Krebs, senior analyst at Autotrader.com, said in an interview last week. Last year, Ram sold 31,298 pickups in February.
Jeff Schuster at the consulting firm LMC Automotive says consumers also seem to be shrugging off the stock market’s ups and down and the increases in interest rates. Buyers are confident, which is key for auto sales.
In the meantime, proof of consumers’ continued spending power is everywhere. Nissan’s $30,000 Murano SUV saw an 86-per cent jump in sales. But the growth rate is slowing from previous years and many are expecting a plateau.
FCA US said its Jeep brand sales advanced 23 percent in February, with Jeep Cherokee, Wrangler, Patriot and Compass models having their best February sales ever.
Sales of Chevrolet Silverado fell 5 percent, while GMC Sierra sales were flat, posting a 0.3 percent increase.
Ford-brand SUVs had their best-ever February sales, rising 28 percent to 65,016 units.
Sales of F-Series trucks, the top-selling vehicle in the US, were up 10 percent to 60,697 units.
New Ford vehicles are seen at a parking lot of the Ford factory in Sao Bernardo do Campo February 12, 2015.
Toyota’s auto sales dropped slightly, the result of lower gasoline prices. Sales of the Dodge Caravan rose 95% to 12,262 units in February.
Retail sales were at their strongest since 2005, growing by 11%.
Several auto dealership groups have said sales of pickup trucks as well as German luxury vehicle sales in Texas have been pressured by lower energy prices. Tucson CUV was a highlight, with a 90 percent increase in sales. However, that came largely due to GM’s voluntary efforts to scale back on fleet sales to corporate or government customers that pushed annual growth down 2 percent for the world’s third-largest auto company.
SUVs sales are doing particularly well, he added. Honda sold 118,985 vehicles. GM sales were down 1.5% to end the quarter at 227,824, missing analysts’ average of a gain of 5.1%. Hyundai sold 53,009 vehicles. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.
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