Stronger Toyota boosts U.S. sales
DETROIT — Toyota is back. It’s putting a year of earthquake-related shortages behind it and grabbing sales from General Motors and Ford.
Toyota’s sales rose 12 percent in April, and its share of the market returned to levels it hasn’t seen since before the March 2011 earthquake in Japan. Its sales outpaced the industry as a whole, which saw growth of 2.3 percent to 1.18 million cars and trucks last month, according to Autodata.
Toyota’s resurgence could mean better deals as its rivals fight for customers by offering discounts and promotions. Already, Toyota has announced zero-percent financing and other deals in May. It also means better selection for buyers. Toyota’s factories are cranking out popular models that were missing from showrooms last year when the earthquake disrupted production.
Toyota snatched buyers from General Motors, Ford, Honda and Nissan, according to trade-in data from auto research site Edmunds.com. All of those companies saw sales fall in April. Among those that saw sales gains was Chrysler, which posted a 20-percent jump.
April started slowly, but sales picked up toward the end of the month. Sales ran at an annual rate of 14.4 million, making it the fourth straight month in which the annualized pace has been 14 million or more.
While Ford and GM benefited from Toyota’s struggles last year, they’re seeing that advantage fade.
Ford outsold Toyota by 2,314 vehicles in April. Only one month earlier, it was outselling Toyota by nearly 20,000 vehicles. GM’s lead over Toyota also has tightened.
