Toyota, which reported a 39.5 percent drop in May sales when compared to the same month last year, said that it will be ramping up production of six of its best-selling models over the next three months.
“We see a turnaround coming,” Bob Carter, general manager of Toyota Division, said during a sales call Tuesday.
With nearly a 40 percent drop in sales, what turnaround is Carter talking about? Carter told Automotive News that May sales were up 25 percent when compared to April.
“There was an improvement on the retail side of the business for the entire industry,” he said.
Carter said that North American production will increase by 65,000 units as Toyota increases output of the Camry, Corolla, Sienna, RAV4, Tacoma and Tundra models. All six models posted a sales gain in May over April with the Corolla up 27.2 percent and the Camry up 23.7 percent.
“We may be witnessing a slight rebound in the industry,” Carter said.
– By: Omar Rana