Toyota (NYSE: TM) has finally started its US sales comeback, after over a year of shocking volume drops due mostly to the Japanese earthquake and low supplies of parts.
The sales levels of many other large manufacturers fell in April. But, the largest Japanese car company posted an improvement of 11.6% and added market share. There has been pent up demand for some of Toyota’s most sought-after products, particularly the Prius which remains the world’s most popular hybrid.
As a footnote, Chrysler continued its unexpected return from the dead. The company, which was in Chapter 11 and is now controlled by troubled Italian manufacturer Fiat, posted a 20% increase in sales for April
Douglas A. McIntyre