While February sales unexpectedly grew at a slower pace than analysts had predicted, seven of the top US automakers reported positive results – despite the harsh weather conditions that affected large regions during the second half of the month.
According to data compiled by research company Autodata, the total deliveries on the US market in February reached 1,257,619 autos, an increase of 5.3 percent over the same period of 2014. While the bullish analysts said the industry’s SAAR (seasonally adjusted annualized selling rate) would hover around 16.7 million for the month, February’s pace yielded a 16.23 million vehicles result.
General Motors, the largest US automaker and the third biggest in the world, said US sales grew 4 percent to 231,378 cars and trucks from the year ago period. Second largest US automaker Ford had a decline of 2 percent to 180,383 units. Fiat Chrysler Automobiles US (formerly the Chrysler Group) finished another strong month with a rise of 6 percent to 163,586 vehicles. The largest automaker in the world, Toyota, reported deliveries on the US market jumped 13 percent to 180,467 cars and trucks, narrowly beating Ford’s figure. Nissan said sales increased 3 percent to 118,436 vehicles while Honda’s figures were up by 5 percent to 105,466 units.
According to the University of Michigan, which released monthly survey, the slower sales were a direct consequence of the US consumer sentiment falling after an 11-year high due to the unusually extreme weather conditions seen in large zones of the country during the second half of the month. Sales of small cars in particular and of passenger cars in general again took a beating last month, while trucks and SUVs remained on their growing path.