U.S. light vehicle sales increase 13 percent in March

(April 4, 2012) Led by Chrysler, Volkswagen, Hyundai-Kia and Toyota, U.S. light-vehicle sales rose 13 percent last month to 1.4 million units, with demand for smaller, fuel-efficient models, redesigned vehicles and pickups driving the gains. Even with gasoline prices exceeding $4 a gallon in many parts of the country, the SAAR for March hit 14.4 million units.

Once again, Chrysler Group was the biggest winner. The Auburn Hills automaker sold 163,381 cars and trucks, 34.2 percent more than it sold a year ago. Chrysler increased its share of the domestic market from 9.8 percent to 11.6 percent, stealing sales from the likes of Ford Motor Co., which saw its share of the market slip to 15.9 percent from 17 percent a year ago.

"We're seeing strength across the board," Chrysler's U.S. sales chief Reid Bigland said. "What all of them have in common is dramatic improvements in fuel economy."

General Motors posted an 11.8 percent sales increase on volume of 231,052 units. That gave it 16.4 percent of the market, down from 16.6 percent in March 2011.

Ford's sales were up 5 percent year-over-year on volume of 222,884 cars and trucks. Ford reported increased demand for more efficient motors, including its fuel-saving EcoBoost engines.

"Fuel economy was the name of the game in March," said Ken Czubay, vice president of marketing, sales and service for Ford.

According to Jessica Caldwell, senior analyst at Edmunds.com, demand for four-cylinder motors has been rising with gasoline prices, climbing from just 28.1 percent of the U.S. market in 2003 to 47.5 percent last year.

Demand for fuel-efficient vehicles also helped Japanese automakers, which are finally back up to full capacity after last year's earthquake and tsunami.

Sales of the Toyota Prius hybrid outpaced sales of its bread-and-butter Corolla compact. Overall, Toyota Motor Corp.'s sales were up 15.4 percent in March, and its share of the market climbed to 14.5 percent from 14.1 percent a year ago.

Nissans sales were up 12.5 percent, but its share remained flat at 9.7 percent. By contrast, Honda's sales fell 5 percent and its share of the market dropped to 9 percent from 10.7 percent.

Hyundai sales were up 12.7 percent, while Volkswagen posted a 30.3 percent gain.

Sources: Media reports, auto manufacturers