AIADA Cheers February New-Vehicle Sales Gains
The American International Automobile Dealers Association shared in the revelry of February surging to the strongest new-vehicle sales level since the Cash for Clunkers program was in full swing.
According to AutoData figures, February’s overall new-vehicle sales (imports and domestics included) total shot up 27.3 percent versus the previous year. That rise pushed the seasonally adjusted annual rate to 13.4 million units, up from a SAAR of 10.53 million in February of last year.
The SAAR also was the highest since August 2009 when Cash for Clunkers was at its peak.
AIADA believes the increasing availability of credit and growing consumer confidence drove sales higher. Officials also mentioned how rising gas prices also contributed to a surge in small, fuel-sipping vehicle sales.
The association noticed Asian automakers made some of the largest year-over-year sales gains, including Honda (up 21.7 percent), Hyundai (up 28 percent) and Toyota (up 48.5 percent).
In fact, AIADA said Toyota had its best February ever for Prius sales and sold a total of 141,846 units, trailing only General Motors (207,028 units) and Ford (156,232 units) in the U.S market.
“The year is off to a strong start for our dealers,” stated AIADA president Cody Lusk.
“We expect to see gradual but steady growth in the sale of international nameplates throughout 2011 as credit continues to become more available and Americans look for ways to save on gas without sacrificing comfort or reliability,” Lusk added.
Internationals Maintain Majority Market Share
AIADA determined international brands occupied 53.8 percent of the U.S. market in February, a slight decrease from the 54.2 percent they held in January. A breakdown of the position showed Asian automakers held 46.1 percent of the market, up from 45.2 percent in January, while European brands ended the month with 7.7 percent of the market, down from 9 percent in January.
The association calculated international brands sold 535,025 vehicles in February, up from 443,900 units in January. The year-ago figure was 417,013 vehicles.
Within the February total, AIADA indicated Asian nameplates sold 458,220 units, logging a 31.1-percent increase over February of last year. European brands moved 76,805 units, up 13.7 percent from the previous February.
Also, officials pointed out domestic brands sold 458,362 vehicles in February, a figure 26.2 percent stronger than the prior-year period.
Top-Selling Vehicles
AIADA revealed international nameplates captured six of the top 10 selling vehicle spots. In January and December, they held five.
The Ford F-Series and Chevrolet Silverado pickup trucks remained the top two selling vehicles, but the association noted the Toyota Camry regained its title from the Corolla as the top-selling car in the U.S. The Camry moved into the month’s third position with sales of 27,212 units, up an impressive 64.4 percent over last February.
Officials went on to note the Honda Accord — which slid to No. 13 last month — rejoined the top 10 in February. It moved into the sixth slot with sales of 21,206 units that represented a 5.9 percent increase over February of last year.
AIADA highlighted Honda also had the most vehicles in the top 10 with the Accord, Civic and CR-V.
Every vehicle in the top 10 was up by an average of 39.6 percent year-over-year, although the association emphasized the Camry (up 64.4 percent), CR-V (up 61.4 percent) and Chevrolet Silverado (up 60.1 percent) demonstrated the biggest improvements.
Analysis of Sales by Segment
AIADA stressed Americans continued to prefer SUVs and crossovers, purchasing 315,227 units during the month. As usual, officials pointed out the midsize car segment followed with sales of 242,532 units.
The association computed that car sales were up 23.1 percent overall while light-duty trucks were up 31.7 percent. Officials thought the pickup truck segment scored the biggest year-over-year improvement in February, gaining 36.4 percent.
A final wrap-up of February sales by AIADA showed:
—Asian nameplates sold 278,637 cars and 179,583 trucks.
—European nameplates sold 54,224 cars and 22,581 trucks.
—Domestic nameplates sold 158,133 cars and 300,229 trucks.