The automobile industry seems to be on a roll, especially given the recent postings made by three of the most popular companies, including Ford Motor Co., Honda Motor Co., Nissan Motor C, and Fiat Chrysler. The total U.S. sale was reported to be around 6.8 percent to 1.3 million vehicles. This was the strongest results over the last fifteen years.
Ford Motor Company reported a twenty percent rise, whereas Fiat Chrysler noticed a twelve percent rise. Honda and Nissan grew to thirteen percent and eleven percent, respectively. This was, by far, the best record for both, Honda and Nissan within the past months.
However, General Motors came down to 1.5 percent, which is really surprising fall as compared to the previous rise. The company even attributed more than thirty – nine percent cutback. Last month was still better for GM as they projected a seasonal adjustment in annual rates that swayed around the 17.7 million figures. Their report, which was essentially led by Buick, showed a 2.3 percent improvement overall.
Kurt McNeil, vice president of sales operations at GM’s U.S. said that we have a very simple strategy. It not only helps in growing the profitable retail share, but also, at the same time maintains discipline with inventory levels and incentive spending, bringing down rental deliveries.
On the other hand, the sales of Toyota Motor increased by 4.1 percent. Its total sale came up to around 187,954 vehicles.
Talking about its company’s growth, Bill Fay, general manager for the Toyota division said that demand for light trucks is getting stronger day by day in 2016. And the Toyota division was well-known for back-to-back, best-in-class light truck monthly records, backed up by another best-ever month in February, 2016 for RAV4 (up 16 percent to 25,523).
Even the sale of Lexus, which is well-known for a luxury brand, noticed a rise of 1 percent. Selling more than 23,234 units, the company was able to easily overcome the sale of Mercedes – Benz and M=BMW.
Addressing a press conference, Lexus boss, Jeff Bracken said, “It wasn’t just a good month for SUVs, however — IS, CT and RC have exceeded our sales expectations for the month of February,”
Volkswagen, on the contrary, had to bear a loss of almost 13 percent. They lost around 22,321 worth of sale units primarily because of their recent emission scandal. However, Audi – their popular luxury brand, remained untouched and out of criticism. In fact, sale of Audi went up to 2.3 percent.
FCA U.S. was reported to have made a sale of around 182,879 vehicles in February, 2016. The credit can majorly be attributed to their Ram brand, which helped the sale to increase by 27 percent. The Dodge brand also followed the same path, and carved a niche for the company in the automobile market.
The Nissan division experienced a gain of about 13 percent, and the credit for this progress could be given to Sentra’s 34 percent bump.
According to a recently-conducted survey, it is found that Detroit 3, American Honda, Nissan North America, Toyota Motor Sales and Hyundai/Kia are expected to have a noteworthy sales growth for the entire month now. It further predicts that Ford would rank the highest in terms of who makes the most profits.
Jeff Schuster, LMC’s senior vice president of forecasting feels that owing to low fuel prices and new vehicles being introduced to showrooms more often than not, this year seems to be an aggressive one for the automobile industry, and all the big shots of the auto industries have already tightened their belts to carve a niche.