AutoNation (AN) February Sales Jump 29 Percent

AutoNation (NYSE:AN) announced Wednesday sales in February 2011 soared to 17,041, a 29 percent increase over February 2010, exceeding the U.S. average for growth in February, which came in at 27 percent.

A breakdown per division showed sales of domestic vehicles climbed 40 percent to 5,240, imported vehicles were up 35 percent to 9,114, and premium luxury vehicles sold fell 1 percent to 2,687.

Major automakers enjoyed a good February, although American auto manufactures lost ground to their foreign competitors, other than General Motors (NYSE:GM), which led the month with a 49 percent increase in U.S. sales.

The problem for General Motors is it appears the sales boost has come at a huge cost, as they increase incentives during the month while most competitors are cutting back in that regard.

Ford Motor (NYSE:F) has publicly stated they would rather lose market share than have to offer incentives to that degree.

AutoNation was trading at $32.66, up $0.16, or 0.49 percent, as of 12:54 PM EST.