Arctic-like weather across much of the nation put a freeze on January auto sales.
Auto information company Edmunds.com estimated that car companies sold about 1 million vehicles in the U.S. in January, just slightly below the number they sold in the same month a year ago.
Sales lost to January’s frigid weather are likely to be made up this month, the Edmund.com report said.
GM said January is typically the lowest sales month of the year. The automaker said its sales were the worst in the South, Midwest and Northeast, all areas that suffered from the extreme cold. GM said its sales were also hurt by a planned reduction in rental vehicle sales.
Nonetheless, GM said it forecast that light vehicle sales in 2014 will be in a range of 16 million to 16.5 million units. That would be the industry’s best year since 2007, when 16.2 million vehicles were sold.
“Given the difficult weather in our largest sales regions, we are fortunate to have held in at retail as well as we did,” said John Felice, Ford vice president, U.S. marketing, sales and service. “In areas where the weather was good, such as in the West, sales were up."
“The bad weather only seemed to affect our competitors’ stores, as we had a great January with sales up 8% and achieved our 46th-consecutive month of year-over-year sales increases,” said Reid Bigland, Chrysler's U.S. sales chief.
Toyota reported January sales results of 146,365 vehicles, a 7.2% decrease from what it sold in the U.S. in the same month a year earlier.
“January was off to a solid start, but the weather conditions slowed industry sales in key markets late in the month,” said Bill Fay, Toyota’s division group vice president and general manager.
He said Toyota expects sales to rebound this month.
Nissan said its U.S. sales rose 11.8% last month to 90,470 vehicles, its best January on record.
“In spite of challenges posed by Mother Nature, Nissan continued on a roll in January,” said Fred Diaz, Nissan’s senior vice president for U.S. sales and marketing.
Subaru also reported its best January selling cars in the U.S. — a 19% gain to 33,000 vehicles. It was helped by increased availability of vehicle such as the Forester, which previously had been in short supply.
Volkswagen said its U.S. sales fell 19% in January to 23,494 vehicles.
The prices people are paying for cars continued to rise last month.
Auto shopping company TrueCar.com estimated that the average transaction price for light vehicles hit $30,934. That was up about $800, or nearly 3%, from a year ago, but down $422, or more than 1%, from December. Prices are always higher in December because it is a big month for luxury car sales.
“The industry couldn’t ask for a more ideal start to the year with transaction prices up and incentive spending down,” said Larry Dominique, executive vice president of TrueCar. “Whether this type of healthy growth is sustainable remains to be seen.”