Dip in U.S. auto sales likely due to fewer discounts

Auto sales were expected DETROIT— to tail off in February as automakers eased up on discounts.

Auto forecasting firm LMC Automotive predicted a 2 percent drop from last February for what is normally one of the weakest sales months of the year. Others forecast an even steeper decline. Among major automakers, only Toyota, Subaru and Volkswagen reported sales gains over last February.

Ford 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. That’s a stark contrast from 2017, when incentive spending was often climbing $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.

Here are some details regarding February sales:

■ General Motors Co. sales fell just under 7 percent to 220,905. Sales were dragged down by the Chevrolet Silverado pickup truck.

■ Ford Motor Co. sales also fell 7 percent to 194,132. Ford said its car and SUV sales were down but sales of the F-Series pickup inched up.

■ Toyota Motor Corp. sales rose 4.5 percent to 182,195 vehicles. Sales of its top-seller, the Camry sedan, jumped 12 percent.

■ Fiat Chrysler’s sales fell 1 percent to 165,903. Jeep brand sales jumped 12 percent.

■ Nissan Motor Co. sales fell 4 percent to 129,930. Demand for Nissan cars fell 17 percent but truck and SUV sales were up 9 percent.

■ Honda Motor Co. sales fell 5 percent to 115,557. Sales of its CR-V SUV, dropped 19 percent.

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

■ Subaru brand sales rose 4 percent to 47,209.

■ Volkswagen brand sales rose 6 percent to 26,660.