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Tue March 1, 2011
Snowstorms didn't dampen February sales - especially for GM
Snowstorms in February didn’t seem to dampen car sales. Sales were up 32-percent at Nissan, 42-percent at Toyota, and 46-percent at GM.
GM’s gain is for several reasons. Last February GM’s sales were weak, so this February looks much better in comparison. The company increased incentives in February. And it’s easier for GM customers to get financing now that GM has its own finance arm, GM Financial.
Don Johnson is head of GM’s U.S. sales.
"With their entry into the market, our penetration of the sub-prime business is above the industry average," says Johnson. "We’ve also got GM Financial growing their prime lease business."
February sales were up 13-percent at Chrysler and 14-percent at Ford.