Strong retail demand industry-wide drove Toyota U.S. sales in July, and the Japan-based automaker is looking for more of the same in August with its annual model-clearance push now under way.
Bill Fay, Toyota Div. group vice president and general manager, says retail accounted for 88% of industry deliveries in the month, “easily the best share so far this year.
“Typically that’s good for Toyota, Lexus and Scion dealers,” he adds, noting the automaker had its best July in seven years.
Toyota sold 215,802 light vehicles in the month, marking a 7.3% gain from year-ago on a daily rate basis (one more day in 2014), a performance it credits to “rising consumer confidence, coupled with momentum in the marketplace.”
The tally represents a slight shortfall from a WardsAuto mid-month forecast of nearly 218,000 units, but it marks the first time in six years the automaker has topped the 200,000 mark in three straight months.
The results include a best-ever July for the Lexus luxury brand, which rode its “Golden Opportunity” sale in the month to a 14.1% jump in daily deliveries to 27,333 units.
The brand was No.1 among luxury marques in July and continues on a positive roll year-to-date with volume up 17.4%.
Jeff Bracken, Lexus vice president and general manager, says he is “confident” Lexus will top 300,000-unit sales for the year, a sentiment that counters what Brian Smith, vice president-marketing for Lexus in the U.S., recently told WardsAuto.
A 19.9% jump in daily sales of the IS in July, along with strong utility vehicle demand, helped drive the monthly results.
The restyled IS “arrived a year ago, and 12 months later it continues to be one of the industry’s hottest products,” Bracken notes in a call with reporters to discuss July results.
Six of the eight Lexus models posted gains for the month.
Toyota-brand volume of 183,342 units (not including Scion), equals a 7.4% gain from year-ago. Bright spots include the revamped Corolla’s 21.2% jump and the 31.4% spike that gave the RAV4 CUV its best ever month.
Fay says Toyota could have sold even more RAV4s if it had the inventory. He expects that picture to improve in the second half of the year, when the automaker really will be able to “test the hot small-SUV segment.”
The lower-volume 4Runner also recorded strong results, with daily sales up 58.2%, according to WardsAuto data.
The Camry midsize sedan, which is being refreshed for ’15, saw sales rise 10.3% to 39,888 units. Fay says the new model will launch production in September and that the build-out is “right on schedule.”
“We should have another good month in August,” he says of the Camry.
Prius sales continue to lag, dropping 6.3% daily from year-ago in July, though the line had its best ever July in the California market.
There were no changes in the struggles experienced by the Scion brand, where July saw a 21.3% decline in daily sales on double-digit drops for each of the individual models.
The Toyota brand today is launching its model-clearance sale that runs through Labor Day and features 0% financing on 14 of its models.
