Trucks continue to dominate new vehicle sales in the U.S., as is evidenced by sales data from February.
DETROIT, MI - Trucks continue to dominate new vehicle sales in the U.S., as is evidenced by sales data from February.
Total light vehicles sales last month grew 7 percent on an annual basis to 1,344,225 units, according to Autodata Corp.
Of that total, light trucks comprised 771,827 units, a year-over-year rise of 13 percent, while passenger car totaled just 572,398 units, a flat result compared with February 2015.
Low fuel prices and a generally improved economy have contributed both to the increased number of new vehicle sales, as well as consumers' taste for trucks.
Industry analysts are forecasting a seasonally adjusted selling rate, or SAAR, of between 17.4 and 17.8 million in 2016, meaning sales are already on pace for a another record year.
"The automotive industry continues to demonstrate a resiliency even after a record sales year, with top OEMs demonstrating a disciplined, long-term approach to both retail and fleet sales," said Rebecca Lindland, senior analyst for Kelley Blue Book.
The sales results for the so-called Detroit Three were mixed last month, with Ford Motor Co. and Fiat Chrysler both posting growth of 20 percent and 12 percent, respectively, while General Motors reported a dip of 2 percent.
GM said the declined was due to a planned reduction in rental deliveries.
Industry-wide, consumer confidence is high with pent-up demand, and automakers appear to be delivering products they want, Lindland said.
"The consumer is out in force, discovering sophisticated vehicles at nearly any price point with the latest in safety, technology and reliability they could only dream about in the eleven years since many bought a new car," she said. "With that being said, we do need to keep an eye on weakening consumer confidence, rising financing costs and longer loan terms."
Here were the top 10 sellers in February, according to Autodata Corp.:
Vehicle: Units sold: Change vs. February 2015:
Ford F-Series 60,697 9.9 percent
Chevrolet Silverado 43,136 -5.0 percent
Ram 38,555 23.2 percent
Toyota Camry 32,405 -1.6 percent
Toyota Corolla 29,342 5.4 percent
Nissan Altima 28,320 -0.5 percent
Honda Civic 27,707 31.7 percent
Honda Accord 25,785 19.3 percent
Toyota RAV4 25,523 16.3 percent
Ford Fusion 25,442 11.9 percent
David Muller is the automotive and business reporter for MLive Media Group in Detroit. Email him at dmuller@mlive.com, follow him on Twitter or find him on Facebook.