Cold and snow dampen Feb. sales, as trucks thrive
Record cold and snow in Boston, New York and elsewhere put up a bump in the road for February auto sales nationally. But trucks continued to sell well, as snowstorms raised the appeal of the many models that are four-wheel drive. More than half of vehicles sold nationwide were trucks and crossovers, and car sales continued to drop.
Of the major automakers, Toyota was the only one to break the double digits, with sales rising 13 percent. It undoubtedly helped that it is based in (mostly) snow-free Southern California. Subaru, with its broad offering of four-wheel-drive, saw sales jump 18.5 percent, in the automakerês 39th consecutive month of year-over-year growth. Jeep, another good snow vehicle, saw sales jump 21 percent.
The seasonally adjusted annual rate was 16.24 million, a number below analystsê expectations for the month. But economists said sales are still on track to reach 16.9 million for the year, which would be the highest in a decade.
Transaction prices rose 2.8 percent from a year ago to $32,245, according to TrueCar. Correspondingly, incentives fell by $79 per unit to $2,623.Download Bulletin PDF