Incentives fuel 27% sales gain industrywide

Associated Press

DETROIT

As more U.S. buyers head back into auto dealerships, automakers are jostling for their attention with sweetened deals.

The major automakers knocked a little extra off sticker prices in February, giving additional momentum to a recovery in sales that started last year. The good news for buyers is that discounts are likely to continue into the spring.

All major car companies reported double-digit gains for last month. Improving economic conditions and consumer confidence could mean more gains in the months ahead.

Auto sales rose 27 percent in February as the economic recovery continued and consumers felt more comfortable taking on a car payment. The strongest showing came from General Motors Co. and Toyota Motor Corp. with increases of more than 40 percent. Ford gained 10 percent; Chrysler 13 percent; Nissan, 32 percent; and Honda, 22 percent.