(March 3, 2011) Led by General Motors and Toyota, U.S. vehicle sales jumped 27 percent in February, spurring the rebound even as rising gasoline prices threaten to slow the industry's momentum.

General Motors, up 46 percent, and Toyota Motor Corp., up 42 percent, led the increase. February's annualized sales rate — 13.4 million — shattered analysts' estimates and marked the fifth consecutive month the SAAR has topped 12 million.

The increases were fueled in large part by retail demand, more available credit, and aggressive marketing, automakers said.

February's strong showing pushed industry sales up 23 percent year-to-date, boding well for the spring selling season.

It is the latest sign that the U.S. industry's steady recovery is accelerating -- helped in part by a modest rise in incentive spending.

Ford gained 10 percent while announcing a boost in second-quarter production plans. Chrysler advanced 13 percent.

Nissan said it posted record February sales of 92,370 units, up 32 percent. At Honda, sales jumped 22 percent, its biggest monthly advance since September. Hyundai said February sales volume jumped 28 percent, and Kia said demand rose 36 percent.

Ford's gain marked its sixth consecutive monthly increase. The company had led the industry in February 2010 by soaring 43 percent.

Sales at the Ford division, aided by new models and the F-150 pickup, rose 22 percent, offsetting an 11 percent decline at Lincoln. Ford said its retail sales jumped 14 percent last month, with small car demand more than doubling.

Chrysler's 13 percent increase reflected an 81 percent jump in Ram brand sales and a 23 percent increase in Jeep volume. Chrysler's car sales slipped 31 percent, while truck demand advanced 32 percent.

General Motors' 46 percent advance was aided by incentives, new models and strong demand for crossovers, pickups and SUVs. It was the sixth straight monthly sales increase for GM.

GM said its car sales increased 40 percent, while crossover demand jumped 57 percent and pickup and SUV sales soared 65 percent. The gains, GM said, were driven by a 70 percent surge in sales to retail customers.

At the Toyota division, car demand rose 51 percent while light truck sales climbed 45 percent in February.

Sources: Wire reports, Automotive News