US auto sales tap the brakes in March, but outlook strong

DETROIT (AP) — U.S. car buyers stepped on the brakes in March, a sign of a long-expected slowdown in the blistering pace of sales.

March sales were expected to be flat compared with last March. Car buying site TrueCar.com predicted total U.S. sales of 1.5 million vehicles in March, down less than 1 percent from a year ago.

Not everyone saw declines. Toyota said its sales were up 5 percent compared with last March. FCA — the parent of Chrysler and Fiat — said its U.S. sales rose 2 percent.

But those gains were offset by lower sales at other major automakers. General Motors' sales fell 2 percent and Ford and Nissan both saw 3 percent declines. Honda's sales were down 5 percent.

Other automakers were scheduled to report sales later today.

March didn't see the kind of big increases the industry has gotten used to. U.S. auto sales were up 14 percent in January, for example, and 5 percent in February.

There were several contributing factors. Last March saw a surge in sales after an unusually cold February; by contrast, this March still had lingering snow in much of the country. This March also had one less weekend than last March.

Still, March gave the industry a taste of what's to come as U.S. new-car sales reach a natural peak. Sales have been increasing by around 1 million vehicles each year since 2009, when sales fell to 10.4 million vehicles in the depths of the recession. But as sales approach the historic peak of 17 million, the pace is expected to slow. U.S. consumers bought 16.5 million new vehicles last year.