GM Posts Gain; Automakers Top Sales Estimates |
| Bloomberg - Mar 1, 2012 |
General Motors Co. (GM) reported a surprise U.S. sales gain for February, and Ford Motor Co., Chrysler Group LLC and Nissan Motor Co. also topped analysts’ estimates calling for the industry’s best streak since May 2008.
GM deliveries rose 1.1 percent to 209,306 cars and light trucks, beating analysts’ estimates for a 4.8 percent drop. Ford sales increased 14 percent to 178,644, Chrysler’s climbed 40 percent to 133,521 and Nissan’s gained 16 percent to 106,731.
With those four companies reporting, light-vehicle sales in February may have topped the average of 17 analysts’ estimates for a 14.2 million seasonally adjusted annual rate. That pace would match January’s and be the first time the U.S. posted a 14 million rate in consecutive months in almost four years.
“It’s been a long time since we’ve sold more than 1 million cars in the month of February and we’re probably going to cross that line this month,” Maryann Keller, principal of a self-named consulting firm in Stamford, Connecticut, said in an interview with Bloomberg Radio. “It’s been a function of a very warm winter. It’s also helped that lenders are now competing for the business.”
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- Posted: 2012-03-01 11:56:43
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