GM's Auto Sales Jump 46% In February
"General Motors Co.'s U.S. rose 46 percent in February, helped by incentives, new models and strong demand for crossovers, pickups and SUVs," according to The Wall Street Journal.
The report said that "GM said its car sales increased 40 percent, while crossover demand jumped 57 percent and pickup and SUV sales soared 65 percent. It was the sixth straight monthly sales increase for GM.
The gains, GM said, were driven by a 70 percent surge in sales to retail customers.
"Our plan was to get off to a quick start this year, and we did just that," Don Johnson, head of GM's U.S. sales operations, said in a statement.
All of GM 's brands posted gains of more than 40 percent, with sales up 43 percent at Chevrolet, 73 percent at Buick, 70 percent at Cadillac and 61 percent at GMC."
The Wall Street Journal said Toyota Motor Corp. U.S. auto sales jumped at least 42% in February.
Honda Motor Co. said its sales were up 22%. Honda and Chrysler results were boosted by truck sales. Honda said it sold 98,059 vehicles, up from 80,671 a year earlier and 29% higher than in January. Sales for cars rose 14% while truck sales increased 31%. Chrysler said its truck sales jumped 32% while car sales decreased 31%.
According to the U.S. Energy Information Agency, average gas prices in the nation are up 68 cents a gallon from a year ago, to $3.83 as of Feb. 28. That is 19 cents higher than a week earlier.