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U.S. auto sales take tumble in February

Fiat Chrysler's sales fell 1 percent in February to 165,903, however Jeep's sales jumped 12 percent. Overall, U.S. sales of new cars and trucks fell 2 percent from last February to 1.3 million.
Manufacturers trim incentives

DETROIT — U.S. sales of new cars and trucks tailed off in February as automakers eased up on discounts.

Sales fell 2 percent from last February to 1.3 million, according to Autodata.

Among major automakers, only Toyota, Subaru and Volkswagen reported sales gains over last February. Ford’s U.S. sales chief Mark LaNeve said automakers spent an average of $65 less per vehicle on incentives in February compared to the same month last year. In 2017 incentive spending often climbed $300 or $400 per month.

LaNeve said discounts could grow during the spring and summer, when tax returns arrive and more people shop for vehicles. But based on the first two months of this year, he expects automakers to remain fairly disciplined. In the past, heavy discounting has led to overproduction and steep profit declines.

Here are some details regarding February sales:

n General Motors sales fell just under 7 percent to 220,905. Sales were dragged down by the Chevrolet Silverado pickup truck, GM’s top-selling vehicle. Silverado sales were off more than 16 percent from a year ago. GMC and Chevrolet sales were down for the month but Buick and Cadillac sales rose.

n Ford sales also fell 7 percent to 194,132. Ford said its car and SUV sales were down but sales of the F-Series pickup — its biggest seller — inched up 3.5 percent. Ford brand sales were down 6 percent while luxury Lincoln sales plummeted 23 percent.

n Toyota sales rose 4.5 percent to 182,195 vehicles. Sales of its top-seller, the Camry sedan, jumped 12 percent as an updated version went on sale. Lexus sales also rose 5 percent.

n Fiat Chrysler’s sales fell 1 percent to 165,903. Jeep brand sales jumped 12 percent and Alfa Romeo sales were also up, but Ram truck sales fell 14 percent because of a drop in fleet buyers. Chrysler, Dodge and Fiat sales also fell on low demand for cars.

n Nissan sales fell 4 percent to 129,930.

n Honda sales fell 5 percent to 115,557. Sales of its best-seller, the CR-V SUV, dropped 19 percent.

n Hyundai sales fell 13 percent to 46,095 as higher sales of SUVs failed to make up for declining car sales.

n Subaru sales rose 4 percent to 47,209.

n Volkswagen sales rose 6 percent to 26,660.

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