Winter storms, not port dispute, slow US sales

Winter storms across key markets in the US dampened new light vehicle sales growth in February, though underlying fundamentals remain strong. The market came in at about 1,257,000 units, up 5.3% from last year and the 12th consecutive month of year-on-year gains. AutoData puts the seasonally adjusted annualised rate (SAAR) for last month at 16.23 million units, below the 16.55 million unit rate seen in January and short of most forecasts. Kelley Blue Book had forecast a 16.6 million SAAR while LMC Automotive and RBC Capital Market's both expected 16.7 million. However, the year-to-date pace of 16.4 million units is the best start to the industry since 2007.