Auto Industry Celebrates Unexpectedly Profitable February with New Sales Records

The auto industry is witnessing an unprecedented surge in sales, with many major players setting new records in February. General Motors Corp. (GM) reported an 17.5% increase in sales, marking a new company record for minivan and light truck sales. The sales figures exceeded analyst expectations, with the industry as a whole experiencing a significant boost in sales despite it being a typically quiet month for dealerships. According to reports, only Mazda Motor Corp. saw a decrease in sales, down just 0.2% from February 1998.

Key Takeaways:

• General Motors Corp. reported a 17.5% increase in sales in February, setting new records for minivan and light truck sales.
• Ford Motor Co. set a monthly record with 319,340 vehicle sales, up 8% from the same period last year.
• Toyota Motor Corp. posted an 18.9% increase in U.S. sales, setting a February record, with car sales climbing 16% and sport-utility vehicle sales jumping 39%.
• Honda Motor Co. reported a 14% increase in sales, with car sales up 4% and light truck sales, including minivans and sport-utility vehicles, rising 74% to a new monthly record.
• Volkswagen AG sold 20,888 cars in February, up 78% from the same period last year.

Statistics:

• GM sold 389,049 units in February, with car sales skyrocketing 18.8% and truck sales up 16% from the same month last year.
• Ford sold 319,340 vehicles, up 8% from the same period last year.
• Toyota's U.S. sales climbed 18.9% to 108,141 units, with car sales up 16% and sport-utility vehicle sales down 39%.
• Honda posted a 14% increase to 81,910 vehicles, with car sales up 4% and light truck sales up 74% to a new monthly record.
• Volkswagen AG sold 20,888 cars last month, up 78% from the same period last year.

Sources:

• UPI (United Press International) - "Auto Industry Celebrates Unexpectedly Profitable February with New Sales Records"
• COMTEX - "News Provided by COMTEX (http://www.comtexnews.com)"