DEARBORN (dpa-AFX) - Automakers said Tuesday that their U.S. vehicle sales rose in February, but at a slower rate due to inclement winter weather that affected most part of the country. The gains were mostly driven by strong truck sales thanks to an improving economy and stronger job market. General Motors Co. (GM), FCA US LLC and Toyota Motor Corp. all reported higher vehicle sales for the month, while Ford Motor Co. (F) reported a 2% sales drop.
GM, the largest U.S. automaker, said that its February U.S. sales rose 4.2% to 231,378 vehicles from 222,104 vehicles in the same month last year.
There were 24 selling days for February 2015, the same as last year.
For February, GM's retail sales were up 1%, while commercial and fleet sales were up 12% from a year earlier.
Among GM's four brands, Chevrolet sales rose 3.8% to 159,788 units and GMC sales surged 19.3% to 42,433 units, while Cardillac sales fell 12.6% to 11,739 units and Buick sales dropped 9.2% to 17,418 units.
'Our new SUVs and crossovers, combined with the three-pickup strategy we outlined more than a year ago, are dovetailing perfectly with the growing U.S. economy and a stronger job market,' said Kurt McNeil, GM's U.S. vice president of Sales Operations.
GM estimates that the seasonally adjusted annual selling rate for light vehicles in February was 16.5 million units.
GM's strong sales performance continued despite a series of recalls announced by the automaker since February last year. Also last month, GM reported a 16% rise in fourth quarter profit, driven by a double-digit revenue growth. The company also said its expects to increase its dividend by 20%, commencing from the second quarter of fiscal 2015.
GM is establishing its flagship Cadillac brand as a separate business unit headquartered in New York City to pursue growth opportunities in the luxury market. Cadillac expects to introduce four new vehicles in North America in 2015.
Dearborn, Michigan-based Ford said it sold 180,383 vehicles in the U.S. in February, down 1.9% from 154,644 vehicles sold in the same month last year. For January, Ford had reported a 15.3% rise in U.S. vehicles sales.
Ford's car sales fell 8.1% year-over-year to 56,081 units and utility vehicle sales slipped 2.3% to 54,420 units in February, while truck sales for the month rose 4% to 69,882 units.
Sales of Ford's F-Series truck, America's best-selling truck for the 38 straight years and best-selling vehicle for 33 consecutive years, fell 1.2% to 55,236 units.
'Strong customer demand for the all-new F-150 drove strong February F-Series retail sales results in February,' said Mark LaNeve, Ford vice president, U.S. Marketing, Sales and Service.
Ford was less ravaged by the recession than most of its peers. The company also did not have to restructure with federal assistance. The automaker has reported a profit for each of its last 22 quarters.
FCA US LLC, which changed its name from Chrysler Group LLC in mid-December, said its U.S. vehicle sales for February rose 6% to 163,586 units from 154,866 units in February last year, marking the 59th consecutive month of year-over-year sales gains. The company also recorded its best February sales since 2007.
FCA US, which was once part of German automotive company Daimler AG, emerged from Chapter 11 reorganization in December 2009 and was bought by Italian automaker Fiat Chrysler Automobiles NV in a U.S. government-brokered deal. FCA US is now a wholly-owned subsidiary of Fiat.
Toyota Motor Sales, U.S.A., Inc., a unit of Japan's Toyota Motor Corp. , said its February sales rose 13.3% year-over-year to 180,467 vehicles.
'The auto industry is off to its best start since 2007 as truck demand continues to rise,' said Bill Fay, Toyota division group vice president and general manager. 'Sales of Toyota light trucks and SUVs, led by RAV4, set a new February record.'
Among other automakers reporting U.S. sales Tuesday, Nissan North America Inc., a unit of Nissan Motor Co. Ltd. (NSANY.PK), said total U.S. sales for February rose 2.7% to 118,436 vehicles. Total car sales fell 2.9% to 68,553 units, while total truck sales rose 11.5% to 49,883 units. Nissan Division sales grew 1.1% year-over-year to 106,777 units, while Infiniti division sales surged 19.8% to 11,659 units.
GM shares are currently trading at $37.51, down 10 cents, while Ford shares are currently trading at $16.11, down 46 cents or 2.78%.
Copyright RTT News/dpa-AFX