Toyota Fast Facts: TMS’ August Sales Decline But Toyota Remains No. 1 Retail Brand

 

September 1, 2010

 

Toyota Fast Facts is an update on Toyota and industry news.

 

For more news, visit www.toyotanewsroom.com

 

1. TMS’ August Sales Decline But Toyota Remains No. 1 Retail Brand

 

Toyota Motor Sales (TMS) today reported a 31.4 percent drop in sales in August on a daily selling rate (DSR) basis compared to last August at the peak of the federal "Cash for Clunkers" program. Toyota sold more vehicles than any other automaker during the U.S. incentive program, and those sales were almost half the brand’s sales that month.

"While August sales results trailed year ago levels when the CARS program generated significant incremental sales for the brand, we’re pleased with how the month shaped up," said Don Esmond, senior vice president of automotive operations. "Customer loyalty rates have returned to traditional levels as Toyota continues to lead the industry as the number one retail brand year-to-date."

August passenger car sales in the Toyota and Lexus divisions dropped 44.6 percent and 22.9 percent, respectively, on a DSR basis, and Toyota’s light truck sales declined 7.6 percent while Lexus’ increased 2.3 percent.

Automotive News

reported that Ford, General Motors, Honda and Hyundai all posted double-digit declines in August compared last August, while Chrysler had a modest gain.

Speaking with reporters today, Bob Carter, group vice president and Toyota Division general manager, cited some indicators that show "we are recovering back to historic levels." One indicator: 57 percent of Toyota’s August sales were conquests, meaning the buyer traded in a competitor’s product, compared to last year’s average of 54 percent, before the recall publicity. Another indicator: Toyota’s August fleet sales were just 6 percent of Toyota’s total (about 9 percent year-to-date), while Ford and GM fleet sales are as high as one-third of their totals. A final indicator: the satisfaction rate among Toyota owners who have had vehicles recalled and fixed this year is higher than for Toyota owners not affected by the recall. That speaks well of the dealers’ handling of the recalls.

To read the TMS press release, please click on

 

 

 

http://pressroom.toyota.com/pr/tms/toyota-reports-august-sales-170997.aspx

To read the TMS sales chart, please click on

 

 

http://pressroom.toyota.com/pr/tms/document/August_PR_Sales_Chart.pdf

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