The U.S. auto industry reported a 16% sales jump in
February. In fact, sales were at their fastest pace in four years.
Automakers sold 1,149,396 cars and light trucks last
month. Quoting Autodata Corp, WSJ.com reports the
annualized pace of sales climbed last
month to 15.1 million vehicles, a level the
industry hasn’t seen since February 2008.
Chrysler led the way as sales rose
40% in February to 133,521 vehicles.
Chrysler company truck sales rose 21%
from a year earlier, while car sales more
Despite rising gas prices, Ford trucks
sustained the biggest increase, up 20.6%
from February 2011. Fuel-efficient Ecoboost
engines made up 43% of F-150’s sold to
individual customers. And after several months of year-overyear declines, sales of the Ford Focus more than doubled.
Ford’s Lincoln division recorded a 16% increase.
Meanwhi le, General Motors sales were up 1%.
Chevrolet’s 5.8% gain powered the overall increase, led
by a 10.1% gain from the Cruze compact, a 38.6% increase
from the Suburban SUV and a 30.7% gain for the Express
full-size van. But GM also posted declines in the Buick
and Cadillac divisions.
Toyota and Honda each posted 12% increases as they
continued to rebound from the earthquake in Japan last
March. It was Honda’s first double-digit gain since April and
Toyota’s first since February 2011.
Hyundai Motor Company announced all-time record
February sales of 51,151 units, up 18% versus 2011.
Sonata, Elantra and Accent total sales increases were 11
percent, 12 percent and 29 percent, respectively. Fleet sales
remain at a low eight percent as the focus remains on retail
Kia also had the brand’s best ever February sales , up
37.3% over the same period in 2011. Kia continues to be
one of the fastest growing car companies in the U.S., and
the February sales total marks the brand’s 18th straight
monthly sales record.
BMW Group, Jaguar Land Rover, Mazda and VW
were among companies with gains of 30% or more.
Mitsubishi was the only other automaker to record a decline
(-31%) in sales.
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