Auto news on Youtube Apr 5 2018

Jeep took its go-anywhere spirit to dealer showrooms, showing a blistering increase in

sales.

But Hyundai is still trying to get traction.

As Americans deepen their love of sport utility vehicles, automakers felt the effect when

it came to March sales.

Collectively, they reported an unexpectedly strong month in March amid strong consumer

confidence despite stock market volatility.

Sales of new vehicles jumped 6% for the month, compared with a year earlier, according to

Autodata.

That easily outpaced analysts' forecasts, like the 3% increase from Edmunds.com and

a 2.6% increase from Cox Automotive.

For the month, the traditional Detroit Three automakers had strong month based almost exclusively

on their SUVs, crossovers and pickups.

General Motors recorded a surprising 15.7% sales increase, far outpacing expectations.

Ford Motor was up 3.5% and Fiat Chrysler rose 13.6%.

Among the Japanese automakers, Toyota was up 3.5%, Nissan declined 3.7%, Honda rose

3.8% and Subaru continued its hot sales streak with a 5.9% increase.

Wild swings in stock prices, higher gasoline prices and higher interest rates weren't enough

to keep car buyers out of the showroom.

"March is certainly coming in like a lion," said Charlie Chesbrough, senior economist

for Cox Automotive.

"It appears that buyers are shrugging off some of the more negative news we're seeing

out there."

Look no further than Jeep.

The Fiat Chrysler SUV brand is red hot.

Sales rose 44.7% in March as the Wrangler, Cherokee and Compass SUVs all posted huge

increases.

On the flip side, Korean automotive brand Hyundai's slump is worsening.

Without enough SUVs and crossover models, the passenger-car-heavy brand lacks appeal.

Hyundai sales tumbled 11.2% for the month.

To be sure, the encouraging March sales rate may not be sustainable for the full year.

Analysts expect overall U.S. auto sales to fall in 2018 after 2017 snapped two straight

years of record sales.

Rebecca Lindland, executive analyst at Cox Automotive, said consumers may be purchasing

vehicles sooner than expected to qualify for low finance rates before interest rates head

even higher later this year.

Still, automakers are healthy and are benefiting from an industrywide transition from passenger

cars to bigger and more profitable vehicles.

Customers are paying handsomely for bigger vehicles, which is padding the bottom line.

For the industry, buyers paid an average of $35,285 in March, up 2% from a year earlier,

according to Kelley Blue Book.

"I've never seen anything like it," said Mark LaNeve, Ford's vice president of U.S. marketing,

sales and service, on a conference call.