Toyota beats rivals Ford and GM, posts 7.5 percent increase in sales
After suffering for most part of 2011, Japanese car maker Toyota Motors is back on track as they registered 7.5% increase in sales for the month of January 2012 in US auto industry. Toyota Motors, in the process, also managed to post the highest growth rate compared to their competitors Ford Motors and General Motors. Ford posting 7.4% increase while GM posting a 6.1% decline in car sales for the same period.
In all, Toyota Motors sold 124,540 units, which includes Scion and Lexus vehicles as well. Toyota’s growth in US was boosted by the surge in demand for Camry sedan. For the month of January 2012, sales of Toyota Camry grew by 56%.
Earlier in March 2011, Japanese East Coast was ruined because of earthquake and ensuing tsunami, resulting in a total shutdown of manufacturing units of Toyota Motors in the region. After losing a considerable amount of time revamping their units in Japan, it seemed like Toyota Motors was getting back to their usual production levels, but then floods hit Thailand, once again affecting Toyota Motors. From being the largest car manufacturer at the start of the year, Toyota Motors slipped to the third position, behind General Motors and Volkswagen, by the end of 2011.
Fighting their way out, Toyota Motors has managed to post an impressive growth rate for the month of Jan 2012. Segment wise, Toyota Motors increased their car sales and pickup sales by 19% and 8.9% respectively, but sales for light-trucks and SUV’s declined by 4.4% and 12% respectively. Toyota cars that posted double digit growth include Sequoia, Tacoma, Camry, Yaris and Avalon. Lexus sales were down by 4.6% while that of Toyota hybrids was up by 19.8%.
Speaking about the surge in Camry demand, Mr Bob Carter, GM & VP, Toyota, said, “Demand for the SE model continues to top the Camry lineup and we could have sold more in January if we had them. So we’re adjusting our SE production mix in order to better meet customer demand in the months ahead, going from about 8 percent for the previous generation Camry, to more than 40 percent for the current production mix.”