US auto sales in February expected to improve slightly

Article by Anita Panait, on February 28, 2014

Auto sales in the United States in February are expected to improve slimly over January thanks to Presidents Day promotions and a slight warm-up from cold winter weather last month. High inventories as well as surging rising incentives are drawing doubts on whether the auto industry has already lost some of its momentum as the critical spring selling season arrives.

"We expect elevated incentive spending to continue," Larry Dominique, executive vice president of TrueCar, said in a statement. "March is going to be a 'must-win' month for dealers if they hope to have a successful 2014."

TrueCar expects new-vehicle sales in February to surge just 0.5 percent from a year ago, to a seasonally adjusted annualized rate of 15.4 million; January’s  SAAR was 15.2 million, affected by snowstorms and subzero temperatures across the US. Cars.com also expects a 15.4 million SAAR in February, with volume surging 1 percent.

Alec Gutierrez, senior analyst at Kelley Blue Book, expects flat sales overall in February, with General Motors and Ford Motor Co. logging the biggest drops among major carmakers since the worst weather occurred in parts of the country where they are most popular. He remarked that sales in California and other warmer areas that prefer to purchase foreign brands have been "very robust."

He projected a SAAR of 15.3 million for February. "There's still a lot of research activity -- a lot of folks out there looking to buy," Gutierrez told Automotive News, citing steady traffic on KBB's Web site as well as heighten sales activity during the lulls between snowstorms.  Barclays Capital analyst Brian Johnson remarked that aside from the weather, soft fleet shipments have had a negative impact on light-vehicle volumes for February. [source: automotive news - sub. required]

If you liked the article, share on:

Topics: united states, sales

Comments

Recommended

Many automakers seem to always have the Nurburgring in the back of their heads when they build new cars. And a lot of them seem to be obsessed about making...
by - December 12, 2017
Niels van Roij Design has revealed a number of new renderings of the company’s upcoming shooting brake. Inspired by the Tesla Model S, this one-off model is scheduled to be...
by - December 12, 2017
Mercedes-Benz has officially released the pricing details of the new 2019 CLS. The base variant is the CLS 350d 4Matic that’s equipped with the inline-six rated engine and comes with...
by - December 12, 2017
In addition to revealing the first images, ARES Design also released new information on its upcoming supercar dubbed as “Project Panther.” The company is aiming for this new model to...
by - December 12, 2017
Mercedes-AMG revealed that it will be unveiling the CLS 53 during the North American International Auto Show in January 2018. This was confirmed by none other than that brand’s very...
by - December 12, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries