Automakers post healthy US sales gains
Automakers posted big U.S. sales gains last month as consumers — giddy from Super Bowl ads — returned to showrooms after a snowy January.
Volkswagen, still stinging from its diesel cheating scandal, saw its U.S. sales drop 13 percent.
Industry analysts had expected February sales to bounce back after a slight decline in January.
On Super Bowl Sunday, which was Feb. 7, website visits per dealership were four times higher than any other Sunday in all of 2015, according to Michelle Krebs, a senior analyst with Autotrader.com.
Ford Chief Economist Emily Kolinski Morris said improving job and income growth, as well as low gas prices and low interest rates, are outweighing stock market volatility in consumers’ minds.
[...] the growth rate is slowing from previous years, and many are expecting a plateau as U.S. demand peaks.
GM said its Chevrolet and GMC brands saw declines in February, but sales improved at Cadillac and Buick.
GM’s best-seller, the Chevrolet Silverado pickup, saw a 5 percent sales decline.
GM said it’s trying to lower its reliance on rental sales, which are less profitable and can hurt vehicle resale values.
Toyota’s car sales dropped slightly, the victim of lower gas prices.
Sales of the Accord midsize sedan were up 20 percent, which helped make up for weaker sales at Honda’s luxury Acura division.