Toyota Sale Surge, GM Flat
Oct 2nd 2012 12:47PM
Toyota (NYSE: TM), its U.S. sales damaged by recalls and an earthquake which hampered its production roared by in sales last month. Sales of the company, which was once No.2 in American market share behind GM (NYSE: GM) rose 42% to 171,910 cars and light trucks. Sales were down 8.8% from August. Toyota continues to lead many car quality surveys like those from JD.Power and Consumer Reports, despite large recalls three years ago.
GM posted poor results. Sales of cars and light trucks were up only 1.5% to 210,245 units.
The Free Press reported
Although car sales were solid, several larger vehicles struggled. GM said its truck sales fell 20%, which it blamed on a "reduction in fleet sales due to the timing of customer deliveries." Sales of the Chevrolet Silverado, which is awaiting a redesign in 2013, fell 16.6% to 36,425 units.
GM's Chevrolet brand rose 1.5%, Buick rose 7.9%, Cadillac fell 1.3% and GMC was flat.
GM continues to struggle in Europe and sales growth has slowed in China, the world's largest market
Douglas A. McIntyre
Filed under: 24/7 Wall St. Wire, Autos Tagged: featured, GM, TM