Automakers post gains in February

GM, Chrysler and Nissan recorded sales increases in February.

General Motors (GM), Chrysler and Nissan all showed impressive sales gains during February. Much of the growth was due to an increased interest in certain models from each automaker, according to Bloomberg.

Nissan and Chrysler have their sport-utility vehicles to thank for the extended growth, while GM saw an increase in sales for Chevrolet cars and Buick models. Alec Guitierrez, a senior analyst at Kelley Blue Book, said in an interview with Bloomberg auto industry experts did not have high hopes for February sales figures, but were pleasantly surprised.

"Heading into February, our expectations were very low, we were expecting another down month, similar to what we saw in January," Guitierrez said. "Given some of the challenges that we saw with the month, I would classify this as a good month for the industry and sets us up for a very strong March."

Automakers improved from analysts prediction
Experts from RBC Capital Markets and JPMorgan Chase & Co. predict sales figures to hit an annualized rate of 15.5 million for February. Deliveries for Nissan for February were 115,360, a 16 percent gain from January. The month-over-month increase is also a better figure than the projected gain of 12 percent, according to Bloomberg.

Chrysler posted a gain of 11 percent from January for a total of 154,866 sales in February. The Michigan-based automaker saw a 47 percent increase in sales of it's Jeep SUV brand, which helped it surpass analysts projections of an 8.8 percent growth.

Continued growth predicted 
Despite U.S. sales for GM dropping 1 percent month-over-month, it is still better than experts' estimate of a 7.7 percent decrease. GM totaled had a total of 222,104 units change hands for February, thanks in part to a 19 percent increase in sales of Buick models. Kurt McNeil, GM's U.S. vice president of sales operations, said in a statement he hopes to see more growth in the upcoming months.

"Weather continued to impact the industry in February, but GM sales started to thaw during the Winter Olympic Games as our brand and marketing messages took hold," McNeil said. "Despite a slower start to 2014 than most people expected, we look forward to a very successful year, backed by plenty of new products and what should be the strongest GDP growth since the end of the recession."

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