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Fri June 1, 2012
Toyota sales recover strongly in May as overall U.S. sales rise
Toyota reported a sales increase in May of 87% compared to the same month a year ago - when the company's vehicle production had plummeted due to the tsunami hitting Japan in March.
There were more selling days this month than last May, but it is still a robust recovery from the disaster, which reduced inventories on Toyota dealer lots and sent some customers to other car companies.
Toyota remains number three in overall sales in the U.S., however, just behind Ford, which saw its sales increase 13% in May.
Chrysler says its U.S. sales rose 30 percent last month, compared to May of last year. The company says there was strong demand for Ram pickups and Jeeps.
Nissan sales rose 21% and Volkswagon reports sales rose 28.4%.
Other automakers report sales later today.
Auto sales remain one of the few strengths of the slowly improving U.S. economy.
Car companies expect to sell about 14.5 million vehicles this year, as pent up demand, better consumer confidence, and a stable U.S. stock market convince people to head to the dealership for a new car.
The age of vehicles on the road is at an all-time high: 11.1 years for passenger cars, and 10.8 for trucks.