Despite Rising Gas Prices, February Auto Sales Strong: Edmunds.com

Auto Website Edmunds.com estimates auto sales to be 15.5 Million

BY GERRY MILES

Amid the concern of the rising gas prices nationally, Edmunds.com predicts that some 1,198,538 new cars and trucks will be sold during the shortest month of the year, predicting an estimated Seasonally Adjusted Annual Rate (SAAR) of 15.5 million vehicles. The sales figure is an increase from Jan. 2013 and 4.3 percent boost from Feb. 2012.

“Car sales are persevering despite economic factors on people’s minds like rising gas prices and the implementation of the payroll tax,” says Edmunds.com Senior Analyst Jessica Caldwell. ‘Pent-up demand and widespread access to credit are keeping up car sales momentum.”

SALES VOLUME FORECAST, BY MANUFACTURER

Sales Volume

February 2013 Forecast

February 2012

January 2013

Change from February 2012*

Change from January 2013*

GM

218,986

209,306

194,699

4.6%

12.5%

Ford

206,553

178,644

165,863

15.6%

24.5%

Toyota

167,405

159,423

157,725

5.0%

6.1%

Chrysler Group

143,680

133,521

117,731

7.6%

22.0%

Honda

106,367

110,157

93,626

-3.4%

13.6%

Nissan

102,580

106,731

80,919

-3.9%

26.8%

Industry

1,198,538

1,148,848

1,042,530

4.3%

15.0%

*NOTE: February 2013 had 24 selling days, Feb. 2012 had 25, Jan. 2013 had 25.

Edmunds.com estimates that retail SAAR will come in at 12.4 million vehicles in February, with fleet transactions accounting for 20.3 percent of total sales. An estimated 3.35 million used cars will be sold in February, for a SAAR of 37.2 million (compared to 3.12 million – or a SAAR of 38.7 million – used car sales in January).

 MARKET SHARE FORECAST, BY MANUFACTURER

Market Share

February 2013 Forecast

February 2012

January 2013

Change from February 2012

Change from January 2013

GM

18.3%

18.2%

18.7%

0.1%

-0.4%

Ford

17.2%

15.5%

15.9%

1.7%

1.3%

Toyota

14.0%

13.9%

15.1%

0.1%

-1.2%

Chrysler Group

12.0%

11.6%

11.3%

0.4%

0.7%

Honda

8.9%

9.6%

9.0%

-0.7%

-0.1%

Nissan

8.6%

9.3%

7.8%

-0.7%

0.8%

More insight into recent auto industry trends can be found in Edmunds.com’s Industry Center at http://www.edmunds.com/industry-center/.

For more economic analysis, please see  http://www.edmunds.com/about/authors/lacey-plache.html

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