The soft month for the Detroit automaker coincides with weakness across the auto sector and was largely unanticipated. Fiat saw a 2% drop during the month, while Japanese automakers Honda (NYSE:HMC), Nissan (OTCPK:NSANY) and Toyota (TM -0.9%) also saw year-over-year declines. General Motors (GM -0.9%) doesn't spill monthly numbers anymore, but is estimated to have seen a 6% reduction in U.S. February sales compared to a year ago.
"With January’s government shutdown and record-breaking sub-zero temperatures in the rearview mirror, we expected a general upward lift in February," says Cox Automotive's Charlie Chesbrough. "However ... the results today suggest a much bigger story: The sales pace has finally shifted into a lower gear," he adds.
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