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ICYMI: February Auto Sales Missed Expectations This Week

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February auto sales disappointed this week, as every reporting automaker posted lower than expected sales.

Total U.S. sales came in at 1,257,619 vehicles, an increase of 5.3 percent, while analysts had expected an increase of 7.1 percent, according to Reuters.

Industry observers and analysts weighed in on the results Tuesday and many cited weather conditions as a possible factor, but acknowledged that February of 2014 also saw difficult weather conditions.

Related Link: Morningstar: Weather Drove Disappointing February Auto Sales

A rise in gas prices and a decline in consumer confidence were also mentioned as factors that could have weighed on sales.

Truck and SUVs, however, were the sales leaders during February and Ford Motor Company (NYSE: F) missed out on some of this demand as production of its new F-150 had not yet fully ramped-up.

In comparison, General Motors Company (NYSE: GM) reported a 36 percent increase in YoY sales for trucks, SUVs, vans and pickups.

Fiat Chrysler Automobiles NV (NYSE: FCAU) saw a decline in its Ram pickup sales, but experienced a 21 percent increase in Jeep sales.

Looking out ahead at 2015, one analyst thought February's dip was momentary and that the industry is still very strong.

Posted-In: ReutersNews

 

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