Automakers have reported the best February auto sales in 15 years in the United States, as demand keeps being pushed up by low fuel prices.
After the record 2015 sales figures and a strong January start, the automotive industry in the United Sates keeps its upward trend with the best February numbers since 2000. Auto sales last month rose around 7 percent, driven by low gas prices and by customers’ trust in the country’s economy. The results support the prospects that the US could hit another record year for vehicle sales. According to data gathered by WardsAuto, February sales on an annualized basis was 17.43 million vehicles, down from 17.45 million in January, but up from 16.32 million last February. Overall, WardsAuto said that 1.34 million vehicles have been sold last month, a 6.7 percent increase than a year ago. The trend has been backed up by Autodata’s researchers who accounted 1.34 million in sales, but said the increase from a year ago was 6.9 percent and the annualized sales rate for February was 17.54 million.
Ford Motor, Fiat Chrysler and Honda were the leading automakers in terms of growth rate last month. Blue Oval’s sales rose 20 percent, as its SUVs and crossovers rose 28 percent from last February, FCA saw a 12 percent increase, while Honda sales were up by 13 percent. General Motors posted an unexpected decline of 1.5 percent and Toyota, No. 3 in the US market, said sales rose 5 percent in the month. As for the Volkswagen Group, sales fell 7 percent, while its core brand dropped 13 percent.