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Auto Industry Continuing Its Comeback

Toyota had a great April to help lead auto makers recovery.

May 2, 2012– In April, the auto industry continued its recovery with Toyota and Chrysler leading the way. As a whole, the industry did very well for the month, but Toyota, Chrysler and Volkswagen fared much better than the rest.

Sales in Chrysler were up 20% over last April’s sales, thanks to the sale of both the Dodge Avenger and the Chrysler 200, both midsize vehicles and the Chrysler 300 a full size car. The rebound of Toyota from the earthquake of last year continued. However, General Motors and Ford both lost part of their market share compared to April of last year. Part of that is because both automakers are selling fewer vehicles to corporate fleets and rental companies.

The annual adjusted rate for April was 14.4 million even though the month had three fewer days of sales than in April of last year. Overall, it was even with the pace of March and up from the 13.2 million rate of last year.

Chrysler has increased its market share by a full two points this year and that is before the release of the Dodge Dart, which will not be in dealerships until June. Sales for GM declined by 8.2% and Ford dropped 5.1%. Toyota saw an increase of 11.6%, while sales at Volkswagen spiked by 27.3%.

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