Auto sales in February were up over January, and up over what was seen last year, but overall there was disappointment in the air. With record snow fall in many parts of the country, auto sales were bound to be impacted. Overall, auto sales were a bit above 1.25 million and had a SAAR of 16.2 million. Analysts were looking for a SAAR of 16.7 million.
For SiriusXM, the numbers that were delivered were still decent news. The satellite radio provider garners most of its subscribers from the trials offered to consumers when a new car is purchased. About half of the cars sold last month are not counted as subscribers even within the promotional period. The other half are counted as subscribers either when the car is manufactured or when the car is sold.
Analysts are anticipating that new car sales in 2015 could be as high as 17 million. Last year sales were just below 16.5 million. The growth is slowing a bit and the peak will happen either here in 2015 or in 2016. Currently sales are at about 2.4 million in 2015. In 2014, the first two months were at about 2.2 million. Essentially, sales are about 200,000 ahead of last years pace, or about 9% better.