DETROIT- The U.S. auto industry is expected to remain resilient this month with sales topping last year’s strong February numbers.
TrueCar.com and LMC Automotive analysts say sales of new cars and trucks are expected to come in at about 1.2 million in February, up nearly 6 percent from a year ago.
TrueCar.com senior analyst Jesse Toprak attributes the expected increase to the “unusual strength” of the full-size truck segment.
“Pent up demand for pickup trucks by small businesses will be a critical factor in this year's continued sales recovery,” he said in a statement.
Pickup truck sales, according to industry experts, have continued to pick up in recent months thanks to easier lending and the recovering housing market.
LMC Automotive predicts retail sales this month to reach 931,100 units, which would be 9 percent higher than in February 2012 and would translate to a seasonally adjusted annual rate (SAAR) of 12.1 million units, up from last February’s 11.7 million unit pace, but weaker than the 13.1 million-unit retail pace in January 2013.
Fleet deliveries are expected to remain at the same level as in January—accounting for 21 percent of the sales mix, according to the automotive forecasting firm.
The majority of automakers, including the Detroit Three, reported January sales of double-digit gains from the same time in 2012, combining for overall auto sales topping 1 million last month, up about 14 percent from a year ago.
Toprak earlier this month said he doesn’t “see too much of a downside risk” this year regarding U.S. auto sales.
Positive forces for the industry, such as the stock market, low interest rates, new products and pent-up demand, are all expected to continue to help the industry sell about 15.5 million vehicles this year.
General Motors Co., Ford Motor Co., Chrysler Group LLC and foreign automakers are all expected to report their February sales on Friday.
Check back to MLive.com/auto tomorrow for more details on February sales.
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