Toyota sales jump 17% on strong car, truck demand
 | Nationwide, fleet sales accounted for less than 8 percent of Toyota sales last month. |
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LOS ANGELES -- Toyota Motor Sales U.S.A. sales jumped 17 percent as the automaker reported its best November since 2007.
Toyota remained the best-selling retail brand in the United States.
Sales were paced by the best November for the Camry since 2007, and the best November ever for Corolla and RAV4.
"We continue to outperform the industry," said Bill Fay, Toyota Division general manager. "We expect this market-driven growth to continue into December and into next year."
Key factors driving November sales were "pent-up demand, excellent financing available with rates at a record-low level, and [a] surge of young buyers coming to the market," Fay said in a conference call.
While looking forward to a strong December, Fay expects 2012's gains to moderate somewhat next year.
"The industry should continue to grow, but not at the level of this year," Fay said. "We will not gain 1.5 million units like we did in 2012."
Fay also is heartened by the recovery of the California market, which has been up between 30 and 40 percent each month this year. Toyota dominates California, with a 20 percent market share.
Nationwide, fleet sales accounted for less than 8 percent of Toyota sales last month.
With gasoline prices falling last month, every Toyota-branded crossover and SUV increased in volume; sales as a group jumped 15 percent. Pickups jumped 28 percent as the pickup market is beginning to show signs of recovery, Fay said.
On the Lexus side, Toyota's luxury brand had its best November in five years, aided by new models and improved inventory levels. But Lexus' slow start to the year means it will be out of the running for the annual best-selling luxury brand race with BMW and Mercedes-Benz.
Excluding Sprinter van sales, Mercedes' U.S. sales through November rose 12 percent to 245,918, ahead of BMW, with year-to-date sales of 244,061. In 2011, BMW outsold Mercedes in the United States by 2,715 vehicles, ending Lexus' 11-year run atop the luxury race.
Lexus' U.S. sales totaled 213,559 vehicles through November, a 23 percent gain from a year earlier.
"They've been pretty aggressive [with incentives], taking advantage of the euro all year long," said Tim Morrison, Lexus vice president of sales and dealer development, said of BMW and Mercedes. "There's no evidence they are going to change that direction as we close out the year."
You can reach Mark Rechtin at mrechtin@crain.com. -- Follow Mark on 
