Toyota Motor Sales U.S.A. Inc., a division of Toyota Motor Corp. (TM: Quote), said Tuesday its U.S. vehicles sales in June surged over 60 percent from last year, with an easing credit market, falling gasoline prices, and a slight pickup in economic conditions fueling growth for its wide array of brands.
The Japanese automaker continued to see robust sales of Prius, Corolla, and Camry, as also for its Lexus sedans. Growth was also reported for truck brands such as RAV4 and highlander.
Moving forward, Toyota said prospects look promising as low interest rates and new product roll-outs would likely entice customers to showrooms.
Toyota in June 2012 had 27 selling days, compared to 26 days last year. Adjusting for the difference, U.S. sales in June were up 54.3 percent.
The company sold a total of 177,795 units in the U.S. in June 2012, compared to 110,937 units last year, still lower than the 202,973 units sales reported in May this year.
Bob Carter, Toyota Division group vice president and general manager, Toyota Motor Sales U.S.A., said, "June and first-half year sales were driven by consumer interest in our new models including the Prius c, the newest member of the Prius family, and the Camry, the best-selling car in America."
At its eponymous Toyota Division, sales in June 2012 increased 57.5 percent from last year to 157,773 units, while sales at Lexus Division jumped nearly 86 percent.
Toyota Division car sales grew 74.5 percent year-over-year to 90,079 units. Volume growth was due mainly to Prius which saw a four-fold rise in sales to 19,150 units, and Camry sales grew 50.2 percent to 32,107 units. Corolla sales were up 41.2 percent at 26,647 units, and Scion series sales more than doubled to 8,400 units.
Lexus Division car sales more than doubled on robust growth for its Lexus GS luxury sedan and Lexus CT, as as also for the IS and ES series.
Toyota Division trucks sales rose 39.4 percent year-over-year to 67,694 units, with sales for RAV4 compact SUV up 66.2 percent. Highlander increased 41.6 percent, Sienna sales climbed 15.8 percent, and Tacoma improved about 46 percent.
TMS Hybrids sales for June totaled 25,776 vehicles, with Toyota Division sales at 23,105 hybrids, and Lexus at 2,671 hybrids.
Toyota has ramped up production and has shown resilience, following the 2011 tsunami and earthquake in Japan, and the flooding in Thailand last year. The company has had also to contend with recalls in 2009 and 2010.
Other leading automakers too reported impressive sales for June. General Motors Co. (GM) U.S. vehicle sales for the month grow 15.5 percent from last year to 248,750 units, on growth across Chevrolet, Buick, and GMC portfolios.
Ford Motor Co. (F) posted a 7 percent rise in June U.S. sales to 207,759 vehicles, helped by demand for its sport utility vehicles. Chrysler, which is majority owned by Italy-based Fiat SpA (FIATY.PK), said its U.S. sales grew 20 percent to 144,811 units.
TM is trading on the NYSE at $80.88, up $0.70 or 0.87%.
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by RTT Staff Writer
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