US auto sales pick up pace in February, but still lag expectations.

(From Agence France Presse)

US auto sales edged higher in February, picking up the pace from a sluggish January and delivering big boosts to the top three Japanese automakers, according to sales data.

Auto sales rose 4.8 percent from February last year to 1.277 million units, striking a seasonally adjusted annual selling rate of 16.4 million units, according to industry figures compiled by Autodata Corp.

It was another lean month for domestic producers, in a market that is running below expectations, but it was the best-ever February for Toyota, and Nissan Motor Co.'s sales soared almost 50 percent higher.

Nissan's sales spiked 46 percent …