Best Feb. for auto sales in four years

[Chris]

NEW YORK (CNNMoney) -- Higher gas prices did not scare consumers away from auto dealerships last month.

On Thursday Ford Motor (F, Fortune 500) and Chrysler Group reported a big jump in February sales, with both fuel efficient models and large trucks posting big gains.

Analysts are forecasting the best month for auto sales in four years in February, and the results from Chrysler and Ford are a good start for the industry to hit those targets. Other automakers such as General Motors (GM, Fortune 500) and Toyota Motor (TM) are due to report results later Thursday.

Ford, the No. 2 automaker in terms of U.S. sales, reported a 14.4% increase in sales.

It was helped by a 114% jump in sales of the compact Focus, the company's key fuel-efficient offering. But truck sales also posted a 20.6% rise, led by a 25.9% increase in sales for the full-size F-series pickup truck.

Best February auto sales in years - Mar. 1, 2012

 

[g5000]

Good. That should help my palladium mining stock a little.

 

[editec]

Rising gasoline prices is scaring ME into looking for a vehicle with still better milage than I cam currently getting on my Ranger. (I'd like about 35-45 mpg)

STICKER SHOCK is preventing me from signing on that dreaded dotted line.

 

[Douger]

Rising gasoline prices is scaring ME into looking for a vehicle with still better milage than I cam currently getting on my Ranger. (I'd like about 35-45 mpg)

STICKER SHOCK is preventing me from signing on that dreaded dotted line.

Buy an old VW beetle.

 

[g5000]

Rising gasoline prices is scaring ME into looking for a vehicle with still better milage than I cam currently getting on my Ranger. (I'd like about 35-45 mpg)

STICKER SHOCK is preventing me from signing on that dreaded dotted line.

People have been putting off buying cars during the recession. You aren't going to take on a monthly car payment if you are uncertain about your future financial condition. Better to keep driving the car you have that is paid off.

Consumer confidence is climbing. People are feeling more secure, so they are buying cars to replace their clunkers out of necessity. They are still holding back on things like refigerators and other durable goods. But you need a car to get to work.

 

[Big Black Dog]

I'd buy a new car but I couldn't afford to put gas in it.