February Car Sales Struggle to Break the Cold Winter Ice, says Edmunds.com
SANTA MONICA, Calif., Feb. 27, 2014 /PRNewswire/ -- The polar vortex that's plagued the country this winter continued to limit shoppers from buying new cars in February, reports Edmunds.com, the premier destination for car shopping. Edmunds.com forecasts that 1,201,445 new cars and trucks will be sold in the U.S. in February for an estimated Seasonally Adjusted Annual Rate (SAAR) of 15.5 million. The projected sales will be an 18.9 percent increase from January, and a 0.8 percent increase from February 2013.
"When the weather doesn't behave, it has a negative impact on car shoppers who are looking for an easy and smooth process at the dealership, so that's why sales will be weak for a second month in a row," says Edmunds.com Sr. Analyst Jessica Caldwell. "But as the weather improves - a lot like we saw this past week - dealerships will be filled with eager shoppers. The strength of pent-up demand promises to keep sales on the right path as spring approaches."
| SALES VOLUME FORECAST, BY MANUFACTURER |
|||||
| Sales Volume |
Feb-14 Forecast |
Feb-13 |
Jan-14 |
Change from Feb 2013* |
Change from Jan 2014* |
| GM |
212,232 |
224,314 |
171,486 |
-5.4% |
23.8% |
| Ford |
185,604 |
195,310 |
153,494 |
-5.0% |
20.9% |
| Toyota |
162,446 |
166,377 |
146,365 |
-2.4% |
11.0% |
| Chrysler Group |
155,106 |
139,014 |
127,183 |
11.6% |
22.0% |
| Nissan |
115,856 |
99,636 |
90,470 |
16.3% |
28.1% |
| Honda |
106,530 |
107,987 |
91,631 |
-1.3% |
16.3% |
| Hyundai/Kia |
95,725 |
93,816 |
81,016 |
2.0% |
18.2% |
| VW/Audi |
37,036 |
42,333 |
33,595 |
-12.5% |
10.2% |
| Industry |
1,201,445 |
1,191,904 |
1,010,080 |
0.8% |
18.9% |
| *NOTE: February 2014 had 24 selling days, February 2013 had 24 and January 2014 had 25. |
|||||
Edmunds.com estimates that retail SAAR will come in at 12.5 million vehicles in February, with fleet transactions accounting for 19.7 percent of total sales. An estimated 3.11 million used cars will be sold in February, for a SAAR of 34.5 million (compared to 2.91 million – or a SAAR of 35.3 million – used car sales in January).
| MARKET SHARE FORECAST, BY MANUFACTURER |
|||||
| Market Share |
Feb-14 Forecast |
Feb-13 |
Jan-14 |
Change from February 2013 (Percentage pts.) |
Change from January 2014 (Percentage pts.) |
| GM |
17.7% |
18.8% |
17.0% |
-1.2% |
0.7% |
| Ford |
15.4% |
16.4% |
15.2% |
-0.9% |
0.3% |
| Toyota |
13.5% |
14.0% |
14.5% |
-0.4% |
-1.0% |
| Chrysler Group |
12.9% |
11.7% |
12.6% |
1.2% |
0.3% |
| Nissan |
9.6% |
8.4% |
9.0% |
1.3% |
0.7% |
| Honda |
8.9% |
9.1% |
9.1% |
-0.2% |
-0.2% |
| Hyundai/Kia |
8.0% |
7.9% |
8.0% |
0.1% |
-0.1% |
| VW/Audi |
3.1% |
3.6% |
3.3% |
-0.5% |
-0.2% |
Shoppers forced to delay their purchases (or even shoppers who are just now entering the market) are encouraged to check out Edmunds.com's Deals of the Month page where they can find some of the strongest available deals, including 0% financing for 60 months on a 2014 Dodge Caravan or $3,000 cash back on a 2014 Cadillac ATS.
About Edmunds.com, Inc.
Edmunds.com is a car-shopping Web site driven to make car buying easy. Almost 18 million visitors use our shopping tools every month to connect with over 9,500 dealer franchises across the U.S. Shoppers can browse our inventory listings for available cars and trucks, and with Edmunds.com's Price PromiseSM, they can get an instant, upfront price on those same vehicles. Recently named by Maritz Research as one of the most trusted online consumer review sites - and the only automotive site listed in the top ten - Edmunds.com is also home to comprehensive car reviews, shopping tips, photos, videos and feature stories. Even when you're at the dealership, we're always by your side. Just call our free Live Advice Line at 1-855-782-4711 or use our acclaimed Edmunds.com iPhone and iPad apps or Edmunds.com Android App. We're based in Santa Monica, Calif., but you can connect with us from anywhere by following @Edmunds on Twitter or by becoming a fan of Edmunds.com on Facebook. You can also find us on Instagram, Google+, Pinterest, LinkedIn and Flipboard.
Contact:
Jeannine Fallon/Aaron Lewis/Stephanie Mar
Edmunds.com Corporate Communications
www.Edmunds.com
Media Hotline: 310-309-4900
[email protected]
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SOURCE Edmunds.com
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