Sales Up at GM, Down at Ford and Chrysler
YOUNGSTOWN, Ohio – Car sales for General Motors Co. and Ford Motor Co. beat expectations in February, while Fiat Chrysler Automobiles posted a double-digit percentage drop to mark the second month in a row total sales for the Big Three fell.
While sales are down, both Ford and GM reported that the average transaction price increased in February. Compared to last year, the average price for Ford sales was up $1,900, while GM was up $570 to $34,900. Ford did not release its average transaction total.
GM sales rose to 237,388, a 4% increase from last year, beating expectations of around 2.5%. Two of its brands, Chevrolet and GMC, posted increases of 3.4% to 164,095 and 17.2% to 46,339, respectively. Meanwhile, Buick sales dropped 9.4% to 16,131 and Cadillac fell 8.6% to 10,823.
For Chevrolet, the increase was bolstered by strong sales from its top seller, the Silverado, which posted a 17.1% gain from February 2016 as 50,504 were sold. The Equinox crossover ranked second in sales with 22,464 moved, followed by the Lordstown-built Cruze, which saw an 18.2% sales gain with 15,367 sold.
GMC sales were topped by the Sierra pickup with 17,618. Topping sales for Buick was the Encore with 6,528 sold, while Cadillac was led by the XT5 with 4,291 delivered nationwide.
Ford Motor Co. sales dropped 4% in February, totaling 208,440, and coming in slightly up of Business Insider’s projection of a 4.3% drop. For the Ford brand, sales were down 4.5% from last year, coming in at 199,696 new cars sold, while Lincoln delivered 8,744 vehicles, an 8.8% rise from February 2016.
The F-series pickup truck line, which saw an 8.7% increase in sales to 65,956, anchored Ford sales. Under the Lincoln nameplate, the MKX topped sales with 2,390 delivered.
Sales for Fiat Chrysler were down 10% to 168,326 in February as just one of its four American brands – the Ram truck line delivered 42,785 for a 4% gain – posted an increase in sales. The industry expectation for FCA’s sales was an 8.4% drop.
Chrysler sales dropped 28% to 16,730, led by the Pacifica with 9,042 leaving showrooms. Jeep sales fell to 62,345, a 15% decline, with the Grand Cherokee leading the pace with 18,925 sold. The Dodge brand had the smallest drop in sales, 7%, as 43,878 were sold. The top-selling Dodge was the Caravan, with 13,682 delivered.
Copyright 2023 The Business Journal, Youngstown, Ohio.