Tuesday, October 2, 2012

Toyota leads US car sales to best month in four years

A Toyota showroom in the US

Toyota saw sales rise 42% in September. Honda reported a jump of 31%, while Chrysler sales increased 12%.

Buyers in the US have been eager to take advantage of low interest rates and cheap financing.

The US car industry's recovery has been a boon to the US economy in recent months.

Industry-wide sales were up 12.8% in September compared to a year earlier, to 1.19 million cars and light trucks.

Calculated on an annualised basis that is 14.94 million vehicles, the highest rate since March 2008 according to Autodata.

Analysts said the increased demand for passenger vehicles comes after consumers in the US delayed buying new cars during the recession which went on till 2009.

That pushed the age of vehicles on the road up, and now those consumers are looking for replacement cars.

"I think in general with the economy chugging along at about 1.5% to 2% that we are gradually seeing people come back," said Ford chief economist Ellen Hughes-Cromwick.

Japanese carmakers continue to show the biggest gains as they rebound from a supply shortage caused by the earthquake and tsunami in Japan.



Source & Image : BBC

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