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Toyota Sales Decline but Still in The Lead For Retail

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On: Fri, Sep 3, 2010 at 3:28PM | By: Sherry Christiansen


Toyota Sales Decline but Still in The Lead For Retail

Toyota Division U.S. sales fell 34% in August resulting in 1% down so far in 2010, but and are now down 1 percent for the year to date but Toyota’s  General Manager Bob Carter states he “isn’t panicking,”  according to a recent automotive news article.

During last year’s “cash for clunkers” program, Toyota sold more cars than any other automaker with 50% more in sales.  That resulted in the Japanese automaker having a difficult goal to reach this year in order to post a sales gain for 2010.

Regardless of the challenge, Toyota has maintained the number one ranked automaker for retail sales in August, and the Camry remained the top selling car (as it has historically).  According to Automotive News; fleet sales were less than last years’ sales at 6% of total sales volume, compared with 9% for the year in 2009.

Toyota Manager Bob Carter stated; “The numbers don’t look very pretty, but August was a fair month for Toyota.” Carter also made mention to the fact that August sales were just slightly below July numbers for 2010.

Toyota reports spending on incentives was at about $2,200 per vehicle, Toyota notoriously has not had a history of offering lucrative sales incentives to customers, but drastic times require drastic measure and the Japanese automaker has stepped up to the plate.

The Toyota Auto Car promotion, for example, offering 2 years free maintenance, has been such a hit that the company has made a decision to continue it through September. The promotion was originally set to expire on Labor Day.

According to Toyota, lower sales are still “a function of the economy” and “at the lowest levels of the industry,” Carter said, referring to Toyota’s incentive programs for 2010. Toyota Motor Corporation sold over 77,000 vehicles in China in August; that number was up 16% from the previous year, and Japan-based Toyota reports sales are up by as much as 22% to 503,800 vehicles.

Carter states that in his opinion customer confidence is better than one may initial think considering the high unemployment rate and the state of the housing market in the U.S., and then looking at the number of vehicles sold this year.

Certified pre-owned Toyota sales posted the highest August profit yet, probably due to the rising number of buyers who are hesitant to purchase new vehicles.

Toyota is predicting 2010 sales of between 11.2 million and 11.5 million vehicles for 2010.




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