Summary: Toyota's (NYSE:TM) U.S. sales increased 25% in September thanks to fuel-efficient cars and truck incentives, versus industry-wide sales growth of 1.9%. Ford sales rose 4.6%, GM's fell 3.1% and DaimlerChrysler's fell 2.3%. Honda (NYSE:HMC), Nissan (OTCPK:NSANY) and Hyundai's sales declined by 4.1%, 5.6% and 13% respectively, while Mitsubishi, Mazda, Suzuki and Subaru's sales rose by 14%, 1.7%, 11% and 0.2%. Japanese and South Korean automakers gained market share for the 14th straight month. Toyota's increase was the largest in 17 months. Toyota has outsold DaimlerChrysler AG (DCX) for six consecutive months; it is now the U.S.'s third largest-selling automaker, and is challenging Ford (NYSE:F) and General Motors (NYSE:GM),who face lower demand for pickup trucks, SUVs, and minivans. Asian automakers' market share increased 1.7% even as U.S. sales rose 1.9 percent. Smaller cars such as the Prius gasoline-electric hatchback, Corolla, Yaris and Scion were responsible for much of Toyota's gains; sales of light trucks such as Tundra and the Sequoia SUV increased 35%, bolstered by rebates, low-interest loans and other incentives.
Related links: Full article • Why Japanese Cars Earn $2400 More Profit Each•Toyota Ups Guidance, Sets Global Production Targets • Japan's Big-3 Auto to Further Expand Fuel Efficiency • Toyota Comments on U.S. Sales Outlook, Denies Tundra Production Cut • Nikkei inches up as Toyota gains, oil stocks down
Seeking Alpha is not affiliated with Bloomberg.