By Michael Calia
Auto makers said Tuesday that their U.S. sales grew in January,
typically a slower month for the industry, as strong demand trends
appear likely to continue into the new year.
The auto industry is in the midst of a strong run of monthly
sales improvements as U.S. consumers, armed with more cash because
of lower gasoline prices, are more confident about the economic
outlook. Now, the market is looking to see whether the sector can
continue its torrid growth this year.
"Consumers feel very good because more people are working, the
U.S. economy is expanding and fuel prices are low," said Kurt
McNeil, General Motors Co.'s U.S. vice president of sales
operations.
Fiat Chrysler Automobiles said its sales rose 14% in January
compared with the same month from last year. GM, Ford Motor Co.,
Toyota Motor Corp., Honda Motor Co. and Nissan Motor Co. all posted
double-digit percentage increases in January.
Much of the continued strength in the industry comes from higher
sales of sport-utility vehicles and trucks, which benefit from
declining fuel prices. Market observers expect auto makers will bet
on sustained lower oil prices and will ramp up production of
heavier vehicles this year.
Automotive information provider Kelley Blue Book said
transaction prices of new light vehicles have grown 5% to $33,993
since January of last year, although they fell 1.7% from December.
GM and Ford are benefiting the most from the increased demand for
trucks and utility vehicles, the firm added.
GM said it sold 202,786 vehicles in January, an increase of 18%.
Its Chevrolet Silverado pickup truck registered a 25% increase,
while its Equinox and Traverse SUVs also enjoyed strong sales
growth. Sales of the large Suburban SUV more than doubled.
The company's GMC brand, which focuses mainly on trucks and
SUVs, posted a 29% sales gain.
Ford, meanwhile, said it posted its best January retail sales
since 2004, a 13% increase from the year-ago period. Overall, the
company said it sold 178,351 total vehicles, including fleet sales,
in the U.S. last month, a year-over-year increase of 15%.
Sales of the company's F-series pickup grew about 17% during the
month. Ford said the new F-150 pickup was selling at a brisk pace
at dealerships, each unit lasting 12 days on lots.
Fiat Chrysler, whose consistent double-digit monthly sales
increases have been driven by sales of its Jeep and Ram brands,
said it sold 145,007 vehicles during January.
Chrysler said its truck sales rose 13% to 105,119 vehicles, and
car sales improved 17% to 39,888 units. The Ram brand reported a
14% increase in sales, its best January performance since 1999, the
company said. The Jeep brand posted its best January ever with 23%
sales growth.
Nissan, which includes the luxury Infiniti brand, said it sold
104,107 vehicles in the U.S. during January, an increase of 15%.
Truck sales jumped 16%, and car sales rose 14%.
Sales of the Murano crossover vehicle rose 72% last month as the
company unveiled its new model.
Honda's sales jumped more than 11% to 102,184 units in January,
with sales of light trucks leading the gains for both its Honda and
Acura brands.
The Honda brand's light truck sales rose nearly 28% to 44,271
units, led by sales of the CR-V and Pilot SUV models.
Toyota said it sold 169,194 units last month, a year-over-year
increase of nearly 16%.
Chrysler projected total industry sales in the U.S. to be a
seasonally adjusted annualized rate of 17 million units, while GM
projected 16.6 million.
Write to Michael Calia at michael.calia@wsj.com
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