Toyota Boosts Rental and Corporate Sales in U.S. By 47%

Short-term fix after low sales due to recalls and earthquake

   

Toyota (NYSE:TM), a company that traditionally shies away from the U.S. rental car industry and corporate fleet sales, boosted them by 47% last month, compared to last January. This strong start is due to pressure caused by falling sales over the past two years — the negative result of numerous safety recalls and shortages from last year’s devastating earthquake.

This rise in corporate customers also increased Toyota’s total U.S. sales by 7.5%. If not for this increase, total U.S. sales would have been up less than 1%.

Toyota’s U.S. sales chief Bob Carter says while fleet sales will perform similarly in February, they will fall to normal levels in March.

– Andrew Lander, InvestorPlace @andrewlander

For the full story, visit the Associated Press.


Article printed from InvestorPlace Media, http://investorplace.com/2012/02/toyota-boosts-rental-corporate-sales-tm/.

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