Auto sales continue fast pace in March

Ford Motor surprises by outselling GM, which usually leads

Automakers enjoyed another solid month of U. S. new- vehicle sales in March, though concerns about rising discounts and a slightly lower selling rate dampened enthusiasm.

Auto companies sold nearly 1.6 million vehicles for the month, up 3.2% from a year earlier, sales tracking firm Autodata reported. In a surprise, Ford Motor outsold traditional leader General Motors to become the largest automaker in America for a month. Autodata said the gap was 936 vehicles, although the two companies put it at 2,583.

Though March was a histori-

cally strong month, it’s “shown a little bit of softness due to consumers being a little more cautious about spending,” said Bill Fay, general manager of Toyota’s U. S. division. “But they’re still spending. The economy still feels stable and fundamentals for consumer spending remain strong.”

Still, most automakers missed analysts’ expectations for the month. Edmunds. com and Kelley Blue Book projected industry increases of 7.3% and 7.6%, respectively.

Though car sales are largely stagnant or falling — save for exceptions such as the Honda Civic — crossovers, sportutility vehicles and pickups remain hot.

That translates into substantial profits as industry sales barrel toward a projected 17.7 million units for 2016, according to the National Automobile Dealers Association.