Indianapolis, Indiana – Despite deep freezes and blizzard conditions throughout much of the country in February, people kept shopping for new cars, pushing auto to record levels for several producers.
However, the rate of growth is slowing compared to 2014. Part of that is a tougher comparable month. In 2014, buyers began returning to showrooms in February after a miserably cold and snowy January. So sales a year ago were better, making it harder for companies to post big gains.
At FCA US LLC, the new name of Fiat Chrysler Automobiles, the double-digit gains posted throughout most of 2014 were replaced by a more modest 6% boost. Gains from the Ram pickup brand and Jeep sport utility vehicle brand helped overcome losses for car-heavy Dodge and Fiat.
Across the board, trucks outperformed cars, a sign either of lower gasoline prices or improvements in the housing market.
The biggest winner of the major producers was Toyota, thanks to its SUVs and bigger cars, not from its fuel-efficient compacts. The Prius hybrid line, for example, was down nearly 7% while its biggest car, the Avalon, was up about 34%. Still, the company’s biggest gains came from its Sienna minivan and its Rav4 and 4Runner SUVs, all of which were up 34% or more.
At General Motors, trucks saved what would otherwise have been a miserable month. A 24% gain for the Chevy Silverado line and a 19% jump for the truck-and-SUV-centric GMC brand helped overcome big declines at Buick, Cadillac, and Chevrolet’s car offerings. Results at Buick would have been even worse except for stellar sales of the Encore compact SUV, up 60%.
Ford was the only major automaker to post a decline as that company suffers from low inventories of hot-selling trucks and vans. The recently launched F-150 is selling almost as soon as it hits dealer lots, so the company’s sales are limited by production speeds, and one of the two plants making the truck is down for retooling.
Vans were a bright spot for Ford, and its van-producing competitors. Combined sales of the Transit, Transit Connect, and E-Series lines were up 30%.
Source: Ford, General Motors, Toyota, Honda, Nissan, Hyundai, Volkswagen, FCA US LLC