Trucks and SUVs Lead Strong U.S. Auto Sales in March

The U.S. auto sales in March kept the market on track to see 15 million units sold at year's end --- with trucks and SUVs leading the way.

As gains in the country's housing market boosted consumer spending, U.S. sales of pickup trucks and sport-utility vehicles jumped in March, according to data supplied by the major auto manufacturers, Reuters in reporting.

General Motors Company, the largest auto maker in the U.S., said its sales to small businesses rose by nearly a third. The company also also posted a 31 percent rise in crossover vehicle sales, while its overall sales were up 6.4 percent.

Number 2 auto maker Ford Motor Company said sales of its F-Series pickup trucks increased 16.3 percent as and sales of SUVs frew15.4 percent.

GM said next month it plans to unveil two new truck models, the 2014 Chevrolet Silverado and GMC Sierra. Ford is also planning to overhaul of its F-150 in 2014.

Auto industry executives said pent-up demand pushed many of the March numbers.

"Business spending has picked up and pent-up demand for vehicles is offsetting any drag from tax or federal spending issues," Kurt McNeil, head of GM's U.S. sales operations, told Reuters. "The economic picture looks pretty similar to the last couple of months, which helps explain why the industry has stayed in a relatively healthy range."

Analysts polled by Thomson Reuters expected an annual sales rate of 15.3 million vehicles in March. GM estimated a slightly lower 15.2 million in sales.

GM sold 245,950 cars and trucks in March, up 6.4 percent from the same time in 2012.

Ford sales rose 5.7 percent to 236,160 vehicles, making March its best month since May 2007.

Meanwhile, Toyota Motor Corp posted a 1 percent U.S. sales increase to 205,342 vehicles

March production also gave Chrysler Group LLC, the No. 3 U.S. auto maker, its best sales month since December 2007, with the sale of 171,606 cars and trucks.

The U.S. auto market is among the strongest in the world and is increasingly critical for major automakers as car sales lag in Europe.