Toyota Motor Sales U.S.A. reported a 17 percent rise in auto sales last month compared with a year ago on the strength of light trucks and a several sedans across the Toyota and Lexus brands.
Brands: Toyota, including Scion, up 17%; Lexus up 15%
Notable nameplates: Toyota Camry up 21%, Toyota Corolla down 0.7%, Toyota RAV4 up 20%, Toyota Highlander up 22%, Toyota Tacoma up 34%, Lexus NX up 42%, Lexus RX up 22%, Lexus ES up 22%
Incentives: $2,430 per vehicle, up 9.8% from a year earlier, according to ALG.
Average transaction price: $31,801, up 0.8% from a year earlier, ALG says.
U.S. market share: 14.4% in January 2018 vs. 14.1% for all of 2017 and 12.5% in January 2017.
Quotes: "We are off to a great start with strong customer demand for light trucks, including RAV4, Highlander and 4Runner, setting best-ever records for January," said Jack Hollis, general manager, Toyota division.
"Toyota trucks and SUVs delivered strong growth in January, continuing a trend we saw for the brand in 2017. What's more promising is the Camry result last month, a car that will go a long way in dictating Toyota's 2018 success. Though the Camry is attractive, it's still a sedan and consumers continue to ditch sedans for SUVs," said Akshay Anand, executive analyst for Kelley Blue Book. "Despite the headwinds, we expect Camry strength to continue, bucking the trend and doing what Honda did with the Civic in 2017."
Did you know? Both Toyota and Lexus set records for light-truck sales in January, with Toyota up 26% to 89,837 vehicles and Lexus up 24% at 12,896 vehicles. Toyota's deliveries to fleets surged 69 percent in January, Bloomberg reported, citing Cox Automotive.