Even with the government providing the Cars Allowance Rebate System (Cash for Clunkers) incentive, Toyota sold 11.4 percent fewer cars and trucks in the U.S. in July than the same period in 2008. Toyota sales totaled 156,355 cars and trucks for the month of July, compared to 175,242 in July 2008.
It’s luxury division Lexus reported a 16.5 percent decline in sales to 18,517 vehicles, from 22,182 in July 2008.
However, Toyota Division’s general manager Bob Carter said that Toyota racked up an estimated 30,000 to 32,000 incremental sales from the clunkers program, reports Automotive News.
“In our view CARS has really served as a very tangible stimulus package,” Carter said. “This really confirms for us that there’s an appetite out there for fuel-efficient vehicles.”
He said that five models generated 80 percent of the sales thanks to the clunkers program including the Corolla, Camry, Prius, RAV 4 and Tacoma. Prius sales hit 19,173 units, a near 30 percent increase over July 2008.
– By: Stephen Calogera