February auto sales are shaping up to be as weak, if not weaker, than the poor results posted in January.
GM sales tumbled 52.9%, thanks in large part to fleet sales (rental car companies, government agencies, etc.) plunging 75%. As massive as the GM decline was, it met analysts extremely low expectations.
Once again, GM outsold Toyota for the month, but the lead was just 17,713 vehicles.
Toyota sales plummeted 37.4% last month. Like, all auto makers, the luxury brands suffered. Last month, Lexus sales dropped 48%
The way sales are coming in, projections of the industry sales rate falling to 9.3 million (9.57 million in January) may be on target.
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