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Automobile industry

Auto Stocks Mixed After February Sales Data Release

Strategic Insights

— 1 min read

Automakers continue to face challenges in the US market, as sales figures for February reveal shifting market share dynamics. Ford has edged out General Motors for the first time in over 10 years, with a significant surge in car and truck sales. This development comes as Toyota faces the fallout from its massive safety recall, with sales declining 9% in February. Despite this, Toyota's sales did not decline as much as predicted, which has had a positive impact on the company's shares.

Key Takeaways:

  • Ford outsold General Motors for the first time in more than 10 years, with a 54% increase in car sales and a 36% increase in truck sales.
  • Toyota's sales fell 9% in February due to its massive safety recall, but did not decline as much as analysts had predicted.
  • General Motors reported an 11.5% increase in sales, partly at the expense of Toyota.
  • Chrysler will report its first year-over-year monthly increase since December 2007.
  • Ford's U.S. market share reached around 17%, an increase of about 3% from the prior year.
  • Ford's shares initially gained but pulled back as the market neared the close, likely on profit-taking.
  • Daimler AG shares were up $0.56, or 1.32%, to $42.95.
  • Toyota Motors shares were up by $0.98, or 1.33%, to $74.62.

Statistics:

  • Ford's car sales surged 54% in February.
  • Truck sales for Ford rose 36% from the prior year.
  • Ford's U.S. market share reached around 17%, an increase of about 3% from the prior year.
  • Toyota's sales fell 9% in February.
  • General Motors reported an 11.5% increase in sales for February.
  • Chrysler's sales are expected to be up year-over-year for the first time since December 2007.

Sources:

  • MidnightTrader via COMTEX, "Auto stocks were mixed after February sales data was released late Tuesday," March 2, 2010.
  • Comtex SmarTrend Alert, "DOWNTREND on 01-22-2010 for DAI @ $47.65," February 26, 2010.
  • Comtex SmarTrend Alert, "UPTREND on 11-09-2009 for F @ $7.97," February 26, 2010.
  • Comtex SmarTrend Alert, "DOWNTREND on 01-26-2010 for TM @ $86.84," February 26, 2010.
  • Comtex News Network, Inc., "SmarTrend is a registered trademark of Comtex News Network, Inc.," 2004-2010.
  • AP, "Chrysler will report its first year-over-year monthly increase since December 2007."

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