By Anne Steele 

Poor weather conditions modestly dented the pace of U.S. auto sales in February, but did little to sour America's increasing thirst for the trucks and SUVs that tend to be pricier than passenger cars.

Several auto makers posted lower-than-expected volumes in February, but light-vehicle sales topped 1.2 million during the month, at least 5% higher than the same period in 2014, according to initial estimates. General Motors Co. and Toyota Motor Corp. were among the standouts, reporting 4.2% and 13.3% gains, respectively.

Importantly, buyers are continuing to move to the heavier vehicles that had fallen out of fashion when high gas prices and weaker economic conditions weighed on consumers near the end of last decade. In January, sales of light-trucks--buoyed by low fuel prices--represented 54% of the market, a mark the industry hasn't touched on an annual basis since 2005.

Most industry observers expect that trend to hold because as long as gasoline prices remain relatively low SUVs such as the Chevrolet Traverse will continue to replace vehicles like the Toyota Camry as America's ideal family vehicle. Light trucks tend to achieve lower fuel economy than passenger cars, so the move is creating headaches for regulators trying to enforce more stringent fuel-economy standards.

Auto makers, however, aren't complaining. The light-truck segment--which includes SUVs and many so-called crossover wagons--generally commands higher prices than cars. Ford Motor Co. sales analyst Erich Merkle said Tuesday the flight to SUVs will only accelerate because baby boomers and young buyers are "more in need of utility."

Alyssa Fall, a 23-year-old loan processor from Valencia, Calif., traded in her 2014 Kia Optima hybrid sedan in February for a 2015 Ford Escape SUV. Ms. Fall and her husband Drew are expecting their first baby in July and their 80-pound German shepherd puppy can't fit in the back of a passenger car.

"It just wasn't happening in the Kia Optima," Ms. Fall said. The Escape is "a lot bigger than anything we could have hoped for."

The Falls took advantage of the Presidents Day sale at Galpin Ford, combining a trade-in deal and low lease price to keep monthly payments low.

Buyers like the Falls are helping the overall industry drive up transaction prices in the U.S. auto industry. The combination of more trucks and SUVs and higher sales of luxury cars led transaction prices of new light vehicles to a new monthly record of $33,229, up 4% compared with the same period in 2014.

Auto makers like Ford have helped making buying an SUV more acceptable. The Escape for instance, is built on the same basic architecture as the Focus compact car, but it is roomier and more utile. Buyers pay a premium for capability: the base price of a Focus is $17,700. while an Escape SUV carries a $23,000 base price.

In February, Ford's transaction prices were up 5%, Mr. Merkle said. At GM, transaction prices were up $2,668 at $34,682 due to a 36% increase in truck sales and sizzling demand for its SUVs, including the GMC Yukon and Cadillac Escalade.

Higher transaction prices are good for auto makers, allowing them to book bigger profits in North America at a time when key emerging markets, notably Brazil and Russia, are slumping. However, as buyers take on bigger payments, they also take on more risk.

Mark Wakefield, a partner at management consulting firm AlixPartners LLP, said consumers are increasingly using long-term loans, with terms of seven years, or leases subsidized by the auto companies to offset the pain of higher transaction prices. So, while people aren't feeling an immediate pain in monthly payments, they are feeding a potential bubble.

"It's risky because of the used price," Mr. Wakefield said. "If a lot of used supply comes online it's going to bring down prices," and that will put buyers in a negative equity position for years, and leave banks and auto-finance arms funding the leases in a bad position.

Overall, Ford's sales fell 2% in February amid a decline in demand for passenger cars and production changeovers for key models, including the F-150 truck and Edge crossover SUV. Fiat Chrysler Automobiles NV and Nissan Motor Co., two of the hottest players in the U.S., both posted sales that missed expectations. Chrysler, relying on Jeep's breakneck sales gains, saw its sales increase 6%, while Nissan sales grew 2.7%. Honda Motor Co. sales grew 5% compared with February 2014.

Chelsey Dulaney and Mike Ramsey contributed to this article.

Write to Anne Steele at anne.steele@wsj.com

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