This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Pickup Truck Sales Boost Ford, GM in February

DETROIT ( TheStreet) -- The U.S. auto industry continued its gains in February, as Ford's (F) sales rose 9% while GM (GM) reported a 7% increase and Chrysler reported a 4% jump.

Sales of the top two U.S. vehicles surged, as Silverado pickup sales gained 29% to 41,643 and Ford F-Series pickup sales rose 15% to 54,489, its best February results since 2007. Ford said pickup trucks accounted for 12.3% of the U.S. auto market in February, up from 10.7% a year earlier.

Forecasters are predicting a single-digit sales increase for the overall industry, which remains a positive indicator of a slowly recovering economy. Ford reported its best February in six years, while Chrysler reported its best February in five years. GM reported its best in five years and said the seasonally adjusted annualized sales rate then was 15.6 million vehicles, similar to today's rate.

In the luxury segment, while Cadillac sales rose 20% to 13,845, Lincoln sales declined 29% to 4,883. GM said Cadillac year-to-date retail sales are the brand's highest since 2006.

"The housing sector has now joined auto sales in propelling the U.S. economy forward," said Kurt McNeil, GM vice president of U.S. sales operations, in a prepared statement. "More importantly, the recovery in new home construction is reinforcing the underlying improvement in auto buying conditions, especially for pickups.

"Light-vehicle sales have now been running at a mid-15 million unit annual rate since November," McNeil noted. He added, "This sets us up well for the launches of key new products this year, including an all-new generation of Chevrolet and GMC full-size pickups and an all-new Chevrolet Impala and Cadillac CTS."

Ford said utility sales rose 21% with car sales up 6% and truck sales up 4%. Ford Fusion sales rose 28% to 27,875. Escape sales rose 29% to 21,110. Explorer sales rose 59% to 16,586. .

At GM, sales rose at all four brands, led by the 20% gain at Cadillac. Buick rose 15% to 16,150. GMC rose 10% to 35,778 and Chevrolet rose 5% to 158,541. In the tough mid-size sedan segment where Fusion competes, Malibu sales lost 26% to 14,817.

Chrysler said sales rose 4% to 139,015, its best February sales since 2008. But sales of Chrysler brand cars fell 7% to 25,083, while Jeep sales fell 16% 31,164. Sales of the Ram pickup, the brand's leading vehicle, rose 3% to 23,285. Dodge brand sales rose 30% to 55,639, with the new Dart selling 7,720 units and Charger sales up 41% to 10,301.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,265.99 +109.14 0.64%
S&P 500 2,011.36 +9.79 0.49%
NASDAQ 4,593.4250 +31.2360 0.68%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs