Report: February Auto Sales Dropped
March 5, 2019—Overall sales in February dropped 2.8 percent when compared to last year for a final total of 1.26 million, according to cbtnews.com. The month’s poor performance makes it more likely that the annualized rate will hover around 16.6 million instead of 17 million, the worst reading in 18 months.
Most automakers saw declines last month, reports cbtnews.com. Fiat Chrysler’s 11-month sales streak faltered as their U.S. deliveries decreased two percent, even the typically successful Jeep saw losses of four percent. The Japanese automaker, Toyota saw a 5.2 percent downturn. Nissan, Honda, and Volkswagen saw declines of 12 percent, 0.4 percent, and 3.6 percent respectively. Even though Ford and General Motors now only release quarterly results, Edmunds estimates that both saw dips of 6.4 percent and 5.8 percent respectively, reports cbtnews.com
On the other hand, there were some bright spots. Subaru experienced their best February ever as the automaker saw a monthly sale increase of 3.9 percent. Most of the automaker’s success can be attributed to the company’s new Forester model which saw gains of 12.8 percent. Even during a slow month, the automaker has found a way to resonate with audiences as February marks 87 consecutive months of yearly month-over-month growth. Another automaker that bucked the downward trend was Hyundai. The company saw a two percent increase in sales while also seeing an overall rise in SUV sales, cbtnews.com reports.