US Auto Sales Scoreboard February 2017 - Light Trucks Drive Gains for International Nameplates

Washington DC March 2, 2017; The AIADA newsletter reported that although the February auto market slipped slightly from a year ago, the sales pace remained strong due to high demand for trucks and SUVs. International brands were well positioned to take advantage of U.S consumer demand, logging a positive month overall.

Audi’s sales rose 17.3 percent from a year ago and Subaru improved its sales 8.3 percent. Honda’s sales were up 4.3 percent, driven by customer demand for crossovers, particularly the best-selling CR-V, whose sales rose 26 percent from a year ago. Hyundai saw sales slip 3 percent and Toyota was down 5.4 percent, for its second consecutive monthly loss. For all automakers, car sales were down 12.1 percent from a year ago while light truck sales were up 6.9 percent.

“At the moment, trucks are driving the market, and helping it sustain a record pace,” said AIADA President Cody Lusk. “As gas prices and interest rates remain low, international nameplate dealers are in an excellent position to meet the shifting demands of the American consumer.”

Internationals Hold Edge in February Auto Market

International brands dialed back their share of the market slightly to 54 percent, compared to 54.4 percent in January. Despite the decrease from last month, international brands improved their share of the market from last February when they held 53.2 percent of the U.S. auto market. Overall sales for these brands totaled 719,503 vehicles, up from 622,600 units in January and 717,600 units in February 2016.

Asian brands finished the month with 45.5 percent of the U.S. auto market, representing an increase from 45.1 percent in January and 45.4 percent in February 2016. Sales of 606,706 units were up from 515,914 in January, but a decrease from the 612,022 vehicles these brands sold in the same month last year. European brands logged an 8.5 percent share of the U.S. auto market in February, down from 9.3 percent in January, but up from 7.8 percent last February. They sold 112,797 units, up from 106,686 units in January and putting their sales up 6.8 percent over the same month last year when they sold 105,578 units.

Domestic brands took 46 percent of the February U.S. auto market, with sales of 614,134 vehicles. Both figures were an increase over January when they held 45.6 percent of the auto market and sold 520,949 vehicles. Overall sales were down from February 2016 when they held 46.8 percent of the U.S. auto market and sold 631,065 vehicles.

Trucks and SUVs Dominate February Auto Market

The February auto market once again displayed shoppers’ affinity for trucks and SUVs. Seven of the top ten selling models fell into one of these categories. Trucks maintained their perch at the top of the sales charts, led by the best-selling Ford F-Series pickup, followed by the Chevrolet Silverado and Ram pickups. The Nissan Rogue moved into fourth place—up from fifth last month—to become the top-selling SUV for the month. Sales for the SUV were up 53.7 percent over February 2016. The newly redesigned Honda CR-V also had a successful month, finishing as the second most popular SUV with sales up 26.3 percent. The Ford Escape (in sixth place) and the Toyota RAV4 (in tenth place) rounded out the month’s top SUVs.

While less popular than trucks and SUVs, cars also had a presence on the month’s list of top-sellers. In seventh place, the Toyota Camry was the best-selling car for the month, followed by the Honda Civic in eighth and the Nissan Altima in ninth.

North America Remains Big Manufacturing Center

International brands continue to rely on their North American manufacturing units to supply vehicles for their U.S. lots. In February, international brands sourced 466,704 vehicles from these facilities—many of which are located in the United States. These included 220,395 cars and 212,354 trucks made by Asian automakers and 18,420 cars and 15,535 trucks made by European automakers.

Outlook

AutoData Corp. reports that the seasonally adjusted annual rate (SAAR) in February 2017 is 17.58 million units, versus 17.69 million units a year ago. Industrywide, 1,333,637 light vehicles were sold in February, up from 1,143,549 units in January, but down from 1,348,665 units in February 2016. Unadjusted for business days, sales for all brands were down 1.1 percent from a year ago. International brands as a group bucked that trend, rising 0.3 percent from a year ago.