Honda Motor and Toyota Motor Continue Recovery With Strong September Sales
October 03 2012 - 8:20AM
Marketwired
U.S. auto market sales have been surprisingly strong in 2012
despite concerns of a global economic slowdown. Aging vehicles
combined with high gasoline prices have sent consumers flocking to
showrooms in search of more fuel efficient vehicles. Five Star
Equities examines the outlook for companies in the Auto
Manufacturers Industry and provides equity research on Honda Motor
Co. Ltd. (NYSE: HMC) and Toyota Motor Corporation (NYSE: TM).
Access to the full company reports can be found at:
www.FiveStarEquities.com/HMC
www.FiveStarEquities.com/TM
Auto Sales in the U.S. are on pace to reach 14.5 million
vehicles in 2012, 1 million more than 2011. Sales in September were
led by German carmaker Volkswagen who reported a 34.4 percent
increase from a year ago. General Motors and Ford Motor reported
vehicle sales were flat in September, while Toyota reported a 42
percent jump.
"We've seen a number of year-on-year increases in terms of the
overall demand, the overall size of the marketplace," said Jonathan
Browning, CEO and President of Volkswagen Group of America. "It's
growth but it's not spectacular. There are some positive signs but
it's nothing to get carried away with yet."
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Honda Motors reported September sales surged 31 percent to
117,211 vehicles. Sales of the company's popular Accord and Civic
models led the way with gains of roughly 57 percent from the year
prior. "The all-new 2013 Accord hit dealerships in mid-September
and our dealers are already seeing a significant increase in
customer traffic surrounding the new model," said John Mendel,
American Honda executive vice president of sales.
Toyota has continued to recover from last year's earthquake
which caused sales to drop dramatically. The company's strong gain
in September was led by strong sales of the new Camry, which surged
37.8 percent. Toyota's U.S. sales were 171,910 vehicles in
September, up from the 121,451 vehicles in the same month a year
prior.
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