Boston, MA 04/04/2013 (wallstreetpr) – America loves cars and there have always been some favorites. Toyota Motor Corporation (NYSE:TM) (Current: $105.19, Up by 4.25%) has held pride of place as the best –selling car in the country for the last 17 months but slipped from that position to rival Nissan Motor Co., Ltd (TYO:7201) (Current: 912.00JPY, Up by 2.59%)’s Altima. It also ended up losing a fair share of the market to Honda Motor Co Ltd (TYO:7267) (Current:3645.00 JPY, Up by 3.40 %) and Ford Motor Company (NYSE:F) (Current: $12.68, Down by 2.54%). The Toyota Camry sales dipped to 37,663 units, decreasing by 12 percent last month which was around a 100 less than the number of Altima’s sold. The winner however was Fusion by Ford whose sales climbed by 6 percent and Honda’s Accord, whose sales rose 36 percent.
Sales will hold for a year
The light-vehicle sales have just started looking a little brighter and the demand has been the highest in five years. These dreary monthly results are a definite blow to the Camry-maker as it had held first position in this segment for every single year since 2002. Coincidentally this particular segment is also the largest in the United States. This ascent in sales is expected to last for at least another year even the American economy is picking up and the people are getting a little more confident with their buying power.
There has been an overall increase in demand for pick-up trucks as well as mid-size cars. Ford Motor Company (NYSE:F) (Current: $12.68, Down by 2.54%) as well as the Chrysler Group LLC have seen a bit of growth since 2007. Nissan’s U.S sales vice president, Al Castignetti that the market no longer belongs to Camry and they are getting their fair share of the pie now. Toyota’s senior vice president Bob Carter however begged to differ and said that the Camry is not really off-target at all and they feel that the company still holds a strong position. They are positive that they will hold fist position in the 2012 market.
Offers will continue
The car-maker will be continuing the zero-interest loan offers as well as the discounted leases that they offered for the Camry. This will be continued for other vehicles as well for at least another month till the times the sales stabilize. The Toyota Prius sales dipped 23 percent primarily due to the let-up in marketing and the decrease in fuel prices. Considering that Honda Motor Co Ltd (TYO:7267) doesn’t really adopt any specific strategy for selling its vehicles either to business fleet customers or car rentals, it manages to outsell rivals. The Wolfsburg, Germany-based Volkswagen AG (PINK:VLKAY) (current: $38.20, Up by 0.34%) posted gains of 5.8 percent for its total Audi and Volkswagen brands.