Toyota Motor Sales U.S.A. Inc., a unit of Toyota Motor Corp. (TM: Quote), said Friday its U.S. vehicles sales for May 2012 jumped 87.3 percent from last year as consumers fended off worries about the economy, and opting for more of its hybrid Prius and Camry. The automaker also saw strong sales for a host of other brands, while truck sales also picked up impressively.
Toyota in May 2012 had 26 selling days, compared to 24 days last year. Adjusting for the difference, U.S. sales grew 72.9 percent from last year.
Toyota sold 202,973 units in the U.S. during May 2012, compared to 108,387 units in the same month last year.
Bob Carter, Toyota Division group vice president and general manager, Toyota Motor Sales U.S.A., said, "We're grateful to our customers who have made Toyota the number one retail brand in America for the third consecutive month."
"Our growth has been driven by the success of our new products, led by Camry and Prius family, part of the most aggressive product launch in our history..."
At Toyota Division, sales in May 2012 soared about 89 percent from last year to 181,510 units, and Lexus Division jumped 74.4 percent to 21,463 units.
Toyota Division car sales more than doubled from last year to 104,422 units. Volume growth was due mainly to Prius sales that tripled from last year to 21,477 units, and Camry sales grew 110 percent to 39,571 units. Corolla sales were up 87.5 percent at 31,847 units.
Lexus Division car sales grew 69.4 percent year-over-year to 9,621 units, on robust sales of Lexus GS luxury sedan and Lexus CT.
Toyota Division trucks sales grew nearly 72 percent from last year to 77,088 units. Sales for RAV4 compact SUV and Highlander brands more than doubled, while Sienna jumped 69.5 percent. Tundra full-size pickup also saw sales double up.
Lexus Division trucks sales were up by 78.8 percent at 11,842 units.
Toyota recently reported strong production increases as it continued to recuperate from the devastating 2011 tsunami and earthquake in Japan that hurt supply chains and demand. An unprecedented flooding in Thailand that year also disrupted supply chains. The company has also been hit by costly recalls in 2009 and 2010.
Meanwhile, other major auto makers also reported increases in auto sales for May. General Motors Co. (GM) saw its U.S. vehicle sales grow 11 percent from last year, on strong demand for small cars and pick-up trucks, while Cadillac sales waned. Chrysler Group LLC said its U.S. sales grew 30 percent, and Ford Motor Co. (F) posted a 13 percent increase.
TM is trading at $74.86, down $2.03 or 2.64%, on the NYSE.
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by RTT Staff Writer
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