U.S. automakers reported vehicle sales for the month of February today.
Total annualized vehicle sales came in at 15.27 million, a rise from last month’s print but less than the 15.4 million expected.
Chrysler Group reported vehicle sales up 11%, Bloomberg reports. Economists were expecting 8.8%.
GM sales fell 1%. Economists were expecting a 7.7% drop.
Ford dropped 6.1%, worse than the 5.3% consensus estimate.
And Toyota fell 4.3%, the call was for -2.5%.
“Mid-month industry reports in January saw sales rising to near a 15.8 million unit annual pace from 15.3 million in December, but instead bad late month weather resulted in a slight decline to 15.2 million,” Morgan Stanley’s Ted Wieseman wrote clients ahead of the report. “Weather disruptions continued into the first part of February, but improvement moving into Presidents Day weekend helped stabilise retail sales, and a rebound in fleet sales that were disrupted by weather in January is expected to provide a boost to the overall selling rate.”
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