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Transportation equipment industry

Toyota Surges to Double-Digit Sales Increase in July as US Automakers Struggle

Strategic Insights

— 2 min read

Detroit's automakers grappled with plunging sales in July, while Toyota Motor Corp. rode its reputation for fuel-efficient vehicles to a double-digit sales increase, outselling Ford in the United States for the first time. The hefty discounts offered by US automakers in July 2005 contributed to a near-record month, but this year's steep gas prices and low discounts led to a sluggish month for General Motors Corp., Ford Motor Co., and DaimlerChrysler AG's Chrysler Group. Despite this, Toyota's small car sales and reputation for fuel efficiency helped the company buck the trend, while Honda Motor Co. also reported strong sales.

Key Takeaways:

  • Toyota's sales increased 11.7% in July, with cars jumping 19.8% and trucks up 1.3%, while the company outsold Ford by more than 17,000 vehicles.
  • General Motors Corp. sales fell 22.2% overall, with trucks down 31.2% and cars inching down 2.7%, with a 44.8% plunge in truck sales and a 6.7% decline in car sales.
  • Ford Motor Co.'s sales of Ford, Lincoln, and Mercury vehicles fell 35.2%, with a 44.8% drop in truck sales and a 6.7% decline in car sales, with sales of F-Series pickup trucks plummeting 45.6%.
  • DaimlerChrysler's Chrysler Group saw sales fall 37.4% overall, with truck sales off 40% and car sales off 23.5%, despite reviving the employee price promotion.
  • The seasonally adjusted sales rate was 17.24 million vehicles, a 17.4% decrease from July 2005.
  • Chrysler extended its employee price promotion offer through August, which it credited for helping sales.
  • 1.49 million vehicles were sold last month, with 17 million vehicles sold in 2005.
  • Automakers sold 17 million vehicles in 2005.

Statistics:

  • Toyota's July sales increase was 11.7%.
  • Overall US auto sales decreased 17.4% from July 2005.
  • General Motors Corp. sales fell 22.2% in July, with trucks down 31.2% and cars inching down 2.7%.
  • Ford Motor Co.'s sales declined 35.2% in July, with trucks falling 44.8% and cars slipping 6.7%.
  • Sales of F-Series pickup trucks dropped 45.6%.
  • DaimlerChrysler's Chrysler Group sales fell 37.4% in July, with truck sales off 40% and car sales off 23.5%.
  • 17.24 million vehicles were sold in July, according to Autodata Corp.
  • 1.49 million vehicles were sold last month.
  • 17 million vehicles were sold in 2005.

Sources:

  • Autodata Corp.
  • Byline: SARAH KARUSH Associated Press

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