February sales for the three major U.S. automakers were all up in February, as Ford (NYSE:F), GM (NYSE:GM), Chrysler all enjoyed decent months, although General Motors was easily the leader, with car and truck sales in the U.S. rising 49 percent.
Analysts had been looking for sales to increase by about 20 percent in February, making GM's performance a surprise, but Ford's and Chrysler's a disappointment.
Ford's sales rose by 12.6 percent over last February, while Chrysler's was up by 13.8 percent.
It remains to be seen how positive the sales increase was for General Motors though, as the had to offer incentives on leasing and financing to generate the sales. Margins and earnings could be under pressure even with the sales.
GM was trading at $32.75, down $0.78, or 2.33 percent, as of 1:21 PM EST. Ford was at $14.74, falling $0.31, or 2.06 percent.
It appears macro-economic issues like higher gas prices are weighing on the share prices of the companies.
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