Car Sales Rise in February Yet Still Disappoint

Mar 04, 2015 10:19 AM EST | Matt Mercuro

Auto sales were up overall during the month of February, but not all automakers met analysts' projections.

Total U.S. sales last month jumped 5.3 percent to approximately 1,257,619 vehicles, according to Reuters. Even though six of the top seven car companies reported year-to-year sales increases, all but one of them fell short of expectations.

Analysts predicted the best February sales month in more than a decade, with sales expected to reach around the 8 to 9 percent range.

General Motors saw its February sales jump 4 percent from 2014 to 231,378 vehicles, and Fiat Chrysler Automobiles posted an increase of 6 percent to 163,586 vehicles, respectively.

Toyota Motor Corp confirmed that sales were up 13 percent to 180,467 cars and trucks. The automaker bested Ford by 84 vehicles to take the No. 2 spot overall behind GM.

Ford actually saw sales drop 2 percent last month to 180,383, according to a company release.

Nissan Motors said sales were up 3 percent to 118,436 vehicles, and Honda Motors reported an increase of 5 percent to 105,466.

Subaru said its sales jumped 18 percent to 41,358 vehicles, and its best-selling Outback SUV was up 30 percent.

Before sales reports were released, most analysts set an annual pace of 16.7 million, according to USA Today. The estimate dropped to as low as 16.2 million after the automakers who account for most of the sales reported their earnings Tuesday.

So far most companies are blaming the nasty winter weather conditions experienced in the U.S. Northeast and Midwest for slowed U.S. vehicle sales in February. Some blamed it on the spike in fuel prices toward the end of the month.

People still purchased some trucks and SUVs despite the higher gas prices. GM sold 45,395 Chevy Silverados last month and Toyota sold 22,000 RAV4 SUVs, a 33 percent increase from last year.

The base vehicle transaction price last month dropped from January to $33,299, according to a Kelley Blue Book release. The average price is $1,145 higher than 2014 however.

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