Auto Sales Climb 13% in U.S.

Carmakers sold 1.4 million light vehicles in the U.S. last month compared with 1.2 million in March 2011, according to Autodata Corp.

March's volume equates to an annualized rate of 14.4 million vehicles compared with a 13.1 million-unit pace a year earlier, but down from a four-year high rate of 15.2 million units in February.

Analysts say sales are being fueled by a stronger economy, improving job market, low interest rates and pent-up vehicle demand. Carmakers say higher gasoline prices also are boosting sales as consumer trade in gas-guzzlers for more fuel-efficient models.

Domestic brands hiked sales 14% in March as Chrysler volume surged 32% to 159,700 units. Volume grew 12% to 231,100 units at General Motors and 5% to 222,900 units at Ford.

Asian-brand sales rose 11% to 668,400 units last month, paced by Toyota (+15% to 203,300). Nissan volume increased 13% to 136,300 vehicles, surpassing Honda, whose sales fell 5% to 127,000 units. Demand grew 13% to 69,700 units at Hyundai and 30% to 57,500 units at affiliate Kia.

Sales of European brands gained 21% in March, led by Volkswagen (+35% to 36,600 units). Rivals BMW and Mercedes-Benz remain neck-and-neck for the luxury-car sales lead with increases of 18% to 23,900 units and 8% to 23,100 units, respectively.