Toyota's U.S. Sales Top 200,000 to Exceed Estimatesby
Toyota Motor Corp. said sales in the U.S. last month exceeded 200,000 light vehicles for its three brands. That means sales increased more than 10 percent from the 180,580 sold a year earlier. The average analyst estimate was for an increase of 8.5 percent.
The world’s largest automaker said it will release a detailed report at 11:30 a.m. New York time on Tuesday. Highlights include the best October ever for the RAV4 and Highlander sport utility vehicles. Scion’s iA is attracting the youngest buyers in its segment, Toyota said, adding that the brand’s iM is drawing a diverse customer base.
The industry may show a 10 percent jump in car and light-truck deliveries, to 1.41 million, the average of four analyst estimates. The annualized rate, adjusted for seasonal trends, will probably be 17.7 million, the average of 13 estimates in a Bloomberg survey. The projected gains include 14 percent for Ford Motor Co. and 12 percent for General Motors Co.
“October was a huge month for the industry, smashing expectations and continuing its hot streak,” said Bill Fay, group vice president and general manager for the Toyota Division.