Jim Lentz, president and chief executive of Toyota Motor Sales, USA, expects strong November sales in the United States as consumers race to acquire new vehicles to replace those damaged and lost during the Hurricane Sandy. Lentz said that on a seasonally adjusted annualized basis, the carmaker’s sales in November will be around 14.8 million and 15.2 million new vehicles.
Speaking on the sidelines of a J.D. Power and Associates and National Automobile Dealers Association conference, Lentz said Toyota believes that around 400,000 cars and trucks were lost due to the super-storm, 100,000 of which were new vehicles. Lentz predicted that vehicle sales will be strong in November throughout the US, particularly in the New York area that received the brunt of Sandy.
Meanwhile, John Mendel, executive vice president of American Honda Motor Co, disclosed during the conference that he expects November sales at an annualized pace of around 15 million. According to TrueCar.com, the seasonally adjusted annualized sales rate in November 2011 was 13.5 million new vehicles, and in October 2012 was 14.3 million.
TrueCar is expecting the US vehicle sales for November to grow 13-percent year-on-year, with a seasonally adjusted annualized rate of 15.2 million new vehicles. TrueCar expects Toyota to post a 17-percent year-on-year increase in US sales for November 2012. However, according to TrueCar, it would be Honda that will log the highest increase in November US sales among major automakers at 32 percent.