Toyota sales dropped about 11 percent in the month of June. While not a positive outcome, it was a signal that the industry’s recovery may be underway.
Toyota’s market share remains strong and while sales have certainly fallen compared with last year, the numbers are still comparatively healthy next to those of other automakers suggests a Toyota Washington DC dealer. Needless to say, tight credit and unemployment are still factors that are hampering new car sales.
What has helped Toyota more recently is the Cash for Clunkers program. This government program offers up to $4,500 for those who trade in a gas-guzzler for a more fuel efficient vehicle. With Toyota’s reputation for producing economical cars, the program has helped fuel new car sales. Another $2 billion may soon be appropriated for the program to maintain the influx of new car sales that one Toyota Boston dealer says the industry as a whole desperately needed.
In addition to Toyota, Ford, Honda, and Hyundai are already gaining market share from other GM and Chrysler, and look to dethrone Toyota from its dominance in the North American market observes car dealers Santa Maria. But with a recent sales gain due to steep demand for the all-new third generation Prius, Toyota is down but certainly not out of the game.
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Results of the Cash for Clunkers program can be found here soon.
