Toyota, Chrysler See Big April Sales Gains
Automakers reported their sales Tuesday. Toyota and Chrysler saw big U.S. sales gains in April, but they came at the expense of General Motors and Ford.
Automakers reported their sales Tuesday. Toyota and Chrysler saw big U.S. sales gains in April, but they came at the expense of General Motors and Ford.
The Japanese automaker said earnings fell 39% in the third quarter while sales fell 1.2%. But the company is optimistic that auto sales are recovering: It raised its full-year forecast.
Last year's massive recalls -- and the resulting legal fallout -- have given Toyota's reputation a beating, cutting into its sales. But the company can't blame all of its problems on the recalls. Analysts also point to another issue: A lack of compelling new models.
Toyota plans to rev up its vehicle production in the U.S., despite November's 7.3% drop in U.S. sales. The automaker has hired the first of an expected 2,000 workers for a new Mississippi Corolla plant, and says it expects to boost overall capacity utilization significantly from last year's weak levels.
Toyota has asked a federal judge to dismiss hundreds of lawsuits over problems with unintended acceleration in its vehicles. The world's largest automaker says such complaints are based on anecdotes, and fail to identify specific defects.




