Toyota, GM, Ford Falter as Chrysler and Nissan Make February Gains
A couple of brands, including Nissan (NSANY.PK) and Chrysler (FIATY.PK), were able to post solid growth for the month of February, contrary to a generally cool sales month for other players in the industry.
Domestically, Chrysler led the way with an 11-percent growth spike, riding on the backs of a 47-percent surge at Jeep to 45,946 units and a 28-percent leap at Ram. Chrysler brand sales grew modestly, as did Fiat, though Dodge sales fell 11 percent for the period over February of 2013. Light trucks were up 27 percent, though car deliveries slumped 15 percent. All told, Chrysler saw its 47th consecutive month of year-on-year gains.
Over at General Motors (NYSE:GM), sales fell slightly, down 1 percent year-on-year. Buick was the only member of the GM family to post a gain, a 19-percent one; Chevrolet and Cadillac each dropped 3 percent, while GMC fell by a single percentage point.
GM’s sales started to warm during the Winter Olympic Games as a result of brand exposure and marketing, U.S. vice president of GM’s sales operations Kurt McNeil explained in a statement from the company. ”Despite a slower start to 2014 than most people expected, we look forward to a very successful year, backed by plenty of new products and what should be the strongest GDP growth since the end of the recession,” he added.