Edmunds: Ford, Toyota, GM to report higher February sales
Posted by: Auto Buff / Category: Toyota
Automakers are expected to post big gains in sales when they report February results this week. General Motors Corp. (NYSE: GM) is projected to have the largest boost increase from a year ago, up 37 percent.
A report from Edmunds.com projects new car sales for February to be about 937,000, a 20 percent jump from the same month last year and a 14 percent gain from last month. It also predicts the seasonally adjusted annualized rate (SAAR) will be 12.6 million, up from 12.5 million in January.
“February started slow, but it gained plenty of momentum over President’s Day weekend,” Edmunds.com Senior Analyst Jessica Caldwell said in a news release Sunday. “It was also the fifth consecutive month with a SAAR over 12 million, which is a good sign as the industry presses forward into March.”
Toyota, which operates a manufacturing plant in Georgetown, Ky., is expected to the next highest year-over-year gain, with sales growing 28.8 percent. Compared with January, Toyota sales are expected to grow by 11.2 percent.
Ford Motor Co. (NYSE: F) is expected to post a 7 percent gain from February 2010, and the company’s February 2011 sales are expected to be nearly 20 percent higher than January.
Ford operates two manufacturing plants in Louisville. Ford’s Kentucky Truck Plant produces F-Series Super Duty trucks and the Ford Expedition and Lincoln Navigator SUVs. The Louisville Assembly Plant is being retooled to produce the company’s next-generation compact SUV.
In January, the company posted its largest retail sales increase to begin a year in more than a decade, according to a previous Business First report. (For more, click here.)
According to the Edmunds report, Chrysler is expected to post the largest increase in sales from January to February, with a gain of 24.9 percent. Nissan is expected to report a 23.7 percent gain from January, and Honda sales are expected to grow 23 percent.
For the full Edmunds report, click here.
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