Toyota reports a 12 percent drop in August sales
By Andrew, 02 Sep, 2010. 0 Comments
2010 Toyota Camry
A 34% drop was experienced by Toyota Division sales in August and so far, this lowers the year-to-date figure; however, this doesn’t bother General Manager Bob Carter. Last August, Toyota benefited the most from the cash-for-clunkers trade-ins last August, bringing in over 50% of sales. That meant that Toyota understandably would have a difficult time just trying to match that number. Even with this target, Toyota was the No. 1 brand in retail sales for August. And the Camry was named the top-selling passenger car. Fleet sales accounted for only 6% of volume, compared with 9% for the year, which lowered overall numbers. In a conference call,
Carter said that the numbers may not be “very pretty” but that August is a “fair month” for the carmaker. He noted that the August vs. July sales had always shown a slight drop. Carter said that Toyota conquest rates continue to be at pre-January recall crisis levels, with 57% of trade-ins stemming from competitive makes. Toyota also will extend the Toyota Auto Care promotion, which gives two years of free maintenance, through September instead of expiring after Labor Day. The Power Information Network indicated that Toyota’s incentive spending was about $2,200 per new vehicle sold. Carter said that this is high for Toyota but that it’s still “at the lowest levels of the industry.”
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