Early indications suggest US auto sales dipped in February
DETROIT (AP) — Early reports from appear to confirm expectations that auto sales tailed off in February as automakers eased up on discounts.
Auto forecasting firm LMC Automotive predicts a 2 percent drop from last February for what is normally one of the weakest sales months of the year. Others forecast an even steeper decline. Most automakers report February sales on Thursday.
LMC said average discounts per vehicle during the first three weeks of February fell $14 to $3,840, the first year-over-year decline since 2013. That's largely because Detroit automakers reduced spending on SUVs and pickup trucks. The cuts improve automakers' profitability, but they could hurt sales.