Toyota U.S. Sales For August Jumps 23%

(RTTNews) - Japanese automaker Toyota Motor Corp. (TM), Wednesday reported a near 23 percent jump in U.S. vehicle sales for August, helped mostly by strong demand for its Prius hybrids and Camry compact as well as for its compact crossover RAV4.

"The auto industry continues to be a bright spot in the economic recovery," said Bill Fay, Toyota division group vice president. "August capped a great summer for new vehicle sales, and it was Toyota's best month in more than five years."

Toyota joins U.S. automakers who posted double-digit growth in U.S. sales for August, with low interest rates, improved housing market, and a somewhat stable job market acting as catalysts. This is in stark contrast to soft sales conditions in a struggling Europe and dampness in emerging markets.

Toyota reported U.S. sales of 231,537 units in August, up 22.8 percent from 188,520 units a year ago. The month had 28 selling days, compared with 27 days last year.

At its namesake Toyota division, total sales rose 22.8 percent from last year to 201,745 units, and at its smaller Lexus division, total sales grew 22.9 percent to 24,237 units.

Car sales at Toyota division rose 24.6 percent to 115,975 units, with 29.6 percent growth attributed to Prius and 21.8 percent growth from Camry. Sales of Avalon, which accounts for smaller volumes, was impressive, as also for Yaris.

At Lexus division, car sales grew 21 percent to 16,978 units, with IS and GS sedans faring well.

Meanwhile, Toyota division truck sales jumped 20.5 percent to 85,770 units, on sales of RAV4 and Tacoma. Lexus division truck sales climbed 25.5 percent to 12,814 units.

Among U.S auto makers, General Motors Co. (GM) said its U.S. sales in August climbed 15 percent year-over-year to 275,847 vehicles, aided by demand for pickup trucks, Cadillacs and Buicks.

Ford Motor Co. (F) recorded sales of 220,404 vehicles, up 12 percent from a year ago, mainly on strong sales of F-series pickups.

Chrysler reported sales of 120,161 vehicles, up 12 percent, on sales of Ram pickups and SUVs like the Jeep Grand Cherokee and Dodge Durango.

Toyota is trading at $126.02, up $1.72 or 1.38%, on a volume of 298 thousand shares on the NYSE.