Cars and Drivers

Toyota, GM U.S. Sales Match Ford, Chrysler Growth as Concerns Mount

2013-Cadillac-CTScoupe
courtesy of General Motors
Following the path set out earlier by Ford Motor Co. (NYSE: F) and Chrysler Group LLC, General Motors Co. (NYSE: GM) and Toyota Motor Corp. (NYSE: TM) posted U.S. sales gains in February that did not quite come close to matching the double-digit gains the companies put up in January. Ford sales were up 9% compared with a 22% jump in January and Chrysler sales were up 4% versus 16% in January. Toyota posted a year-over-year U.S. sales gain in February of 4.3% compared with a 27% growth spurt in January and GM’s February sales rose 7% compared to February 2012 sales, far below the 16% growth seen in January.

GM said it sold 224.314 vehicles in the U.S last month, with Cadillac sales up 20% to 13,845 units and Buick model sales up 15% to 16,150. GM’s Chevrolet badge accounted for sales totaling 158,541, up nearly 5% over February 2012..

Toyota’s sales totaled 166,377 in the U.S. in February, up 4.3% year-over-year. Toyota posted 2012 global sales of 9.75 million vehicles, a company record and enough for Toyota to pass GM as the world’s best-selling carmaker.

German automaker Volkswagen AG reported that February U.S. sales grew by just 2.9%, compared with jump of 7% in January.

Sales in the first two months of 2013 have continued growing, but there is plenty of uncertainty about the effects of government spending cuts not only on employment but also on consumer confidence. Automakers may also begin to feel a pinch in margins as incentives are increased in order to attract buyers.

Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)

Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.

Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.

Click here now to get started.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.