Freezing temperature and bad weather had affected the auto sale across U.S.A. in February, but major companies reported financial gain. It was reported that the strong economy in the U.S.A. was the major factor behind the positive report.
It was reported that Toyota was the biggest gainer among the major auto makers. According to the market data Toyota had a 13.3% gain in February. Chrysler, General Motors, Honda and Nissan had witnessed gains of 5% or less. US sales of Ford were down 1.9% as the dealer didn’t have enough stocks to meet the demand of new F-150 pickup truck. Market analysts predicted much better response from the company.
According to the market data Volkswagen’s sales fell 5.2%. The market analysts suggested an 8% increase to 1.3 million in number of vehicles, based on the strong U.S. economy. Market experts also suggested that, the sale of Jeep Cherokee jumped 19% percent because of falling unemployment data, low interest rate and new version of their vehicles. Auto sale forecasting company LMC Automotive also suggested that the company will sale 40,000 more vehicles in 2015 from their previous forecast, based on their strong demand. The firm also suggested that Jeep will reach 17 million sales this year. But the company also mentioned that the bad weather is also affecting more sales.
According to the dealership`s data, Volkswagen didn’t have any customer for two weeks in Massachusetts. They also said, most of the workers were busy cleaning snow from the cars and moving them around to plow the snow away.
It was also reported that, due to bad weather and heavy snow shipments of car parts to West Coast Shipyard were canceled. Plummeting gas prices also hurt the sale of some small cars like Toyota Prius. According to AAA the average price of gas is $2.44 per gallon which is $1 less than the last year, but it was also confirmed that businesses still shopped for trucks and SUV`s despite the recent higher gas price. According to GM their Chevrolet Silverado pickup sales jumped 24%. Toyota sold around 22,000 RAV4, which is a 33% increase from last year.
The report for the sale of U.S. automakers was released on Tuesday.
