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.