With trucks and CUVs leading the way (again), the US auto market tallied 1.34M light vehicles for the month, a 6.7% increase in DSR* (daily sales rate) over February 2015. Ford Motor Company finished with the largest year-over-year increase, on the strength of its SUV and CUV gains.
Among the major automakers, Ford, Honda, Kia, Nissan, and Fiat-Chrysler all recorded double-digit increases over last year. VW, GM and BMW all lost ground for the month. Sales of large vans vaulted 30% versus February 2015, while CUVs and SUVs also posted double-digit gains (+17.6% and +16.1% respectively).
Low fuel prices once again had an impact on the light truck / car balance, as passenger car sales absorbed a 0.3% loss for the month against last year.
Your ESA Car Keys recap follows.
FEBRUARY 2016 HIGHLIGHTS
Wards Auto and NADA MarketBeat
- February SAAR: 17.43M units
- February Units: 1.34M vehicles sold
- Change: DSR* +6.7% | Volume +6.7% vs February 2015
- Gainers (by volume): Ford +19.9%, Kia +13.0%, Honda +12.8%, Fiat-Chrysler +11.4%, Nissan +10.5%
- Laggards: VW -13.2%, BMW -12.4%, GM -1.5%
*DSR: Daily Sales Rate. A more reliable indicator of the pace of auto sales which accounts for actual car-selling days per month.
*SAAR: Seasonally-Adjusted Annual Sales Rate.
SOURCES: NADA MarketBeat, Wards Automotive, Automotive News.
Dave Eckstein is a Partner in the firm ESA & Company. He specializes in highly profitable market share growth for local businesses and gets a kick out of demonstrating a declining cost of customer acquisition. He plays baseball, but isn't that Dave Eckstein.