Toyota reports a 12 percent drop in August sales

Article by Christian A., on September 2, 2010

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.”

If you liked the article, share on:

Topics: toyota, sales

Comments

Recommended

It has been three and a half years since BMW unveiled the sixth generation of the BMW 7 Series. Thus, it is really about to give the 7 Series a...
by - January 17, 2019
Nissan is commencing sales of the 2019 Nissan Altima on October 3, 2018 in the United States. As expected, the Japanese carmaker has already divulged the details and specs of...
by - November 26, 2018
Sports utility vehicles are still in heavy demand. Ford knows this very well as the American carmaker has seen sales of its SUVs surge dramatically by 28 percent in the...
by - November 26, 2018
BMW’s European customers who are looking forward to have a new range extender version of the 2019 BMW i3 (BMW i3 REx) will have to bear a bad news from...
by - November 26, 2018
Imagining the future of automotive luxury more than three decades from now seems to be a daunting task. It would be hard for a typical person imagine such future without...
by - November 21, 2018