Automakers report rising US sales

Automakers reported higher U.S. sales for February on Friday, saying car buyers have not been deterred by higher gasoline prices or political dysfunction in Washington. General Motors (GM), Toyota, Ford, and most other automakers posted at least modest sales gains in February. Industry analysts estimate last month’s sales rose about 7 percent from a year earlier, fueled by cheap auto financing. GM sales rose 7 percent, while Ford sales increased 9 percent. Chrysler and Volkswagen (VW) also reported increases, but both slowed from the strong pace of the last two years. Chrysler sales rose 4 percent from a year ago, while VW sales were up 3 percent. Toyota sales rose more than 4 percent, while Hyundai and Honda each saw sales increase 2 percent. Of the major automakers, only Nissan was down, with sales 7 percent below a year ago.