By Chelsey Dulaney
Auto makers reported Tuesday that U.S. sales lost steam in
February, after a string of strong months, hurt by the bitter cold
that crippled much of the country.
Ford Motor Co. said its sales fell 2% in February, while Fiat
Chrysler Automobiles NV and Nissan Motor Co. both posted sales that
missed expectations. General Motors Co. was a standout, posting a
better-than-expected 4.2% increase as truck sales surged 36%.
The U.S. auto industry has posted a streak of monthly sales
improvements, fueled by low gasoline prices and easier credit. Much
of the continued strength in the industry comes from higher sales
of sport-utility vehicles and trucks, which benefit from declining
fuel prices. Automotive information provider Kelley Blue Book said
transaction prices of new light vehicles rose 4% to $33,299 in
February compared with a year ago.
General Motors' GMC brand posted a 19.3% increase in sales,
while its Chevrolet sales picked up 3.8%. Cadillac sales fell
12.6%, and Buick sales fell 9.2%.
Ford said it delivered 180,383 vehicles in February as its
namesake brand posted a 1.7% drop and its Lincoln brand had a 7.5%
decrease. Car sales fell 8.1%, offset in part by a 4% increase in
truck sales.
Fiat Chrysler, which has posted consistent double-digit monthly
sales increases, said it sales increased 6% to 163,586 in February,
while Edmunds.com had called for an 8.2% increase. Its Ram brand
reported a 12% increase in sales, as the Jeep brand posted a 21%
surge in sales.
Chrysler projected total industry sales in the U.S. to be a
seasonally adjusted annualized rate of 16.5 million units. Edmunds
had forecast 16.6 million units.
Nissan said its February sales grew 2.7% to 118,436, missing
expectations for a 7.2% increase, as truck sales grew 11.5% and car
sales fell 2.9%. In its Infiniti division, sales grew 19.8%, while
Nissan division sales inched up 1.1%.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com
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