Auto Sales Jump in February

By March 2, 2012Economy

In another good sign for manufacturing, U.S. auto sales are up 15.7 percent from this time last year. Cars are being sold at the fastest pace since February 2008 at seasonally adjusted, annualized rate of 15.1 million units.

Several of the automakers had strong growth in February, a positive sign that manufacturers continue to lead the economic recovery. Ford’s sales rose by 14 percent, Chrysler 40 percent, General Motors 1.1 percent, Toyota 12 percent, Honda 12 percent, Nissan 16 percent and Hyundai 18 percent. 

Some automakers are planning to increase production to meet the increased demand; Ford has said they plan to increase production by 3 percent from last year, a very positive sign for the strength of manufacturing.

In order to continue this strong growth manufacturers need policies from Washington which will all them to continue to lead and grow. Manufacturers are still facing strong headwinds in the form of regulatory burdens and rising energy prices which threaten to harm growth and job creation.  

We need to move forward with a real “all of the above” energy policy which includs expanded access to our domestic supply of natural resources and the ability to work with our neighboring countries for affordable sources of energy.

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