Toyota Cars and Honda Cars Sales Increase in May
With the demand for more fuel efficient and compact cars with the steadily increasing gas prices, two of the biggest foreign car manufacturers, and American favorites, Toyota and Honda, have experienced tremendous sales jumps in the month of May.
Perhaps it is because the summer time tends to be so heavily traveled as well, but Toyota and Honda are both enjoying a nice boost in new car sales, with Honda beating out Toyota by about 4 percentage points in sales increase, a 21% compared to Toyota’s 17% increase.
This is welcome news for the foreign vehicle companies, especially since domestic car makers such as Daimler Chrysler and Ford are suffering due to a reliance on larger, less fuel efficient vehicles as their staple offering.
The steadily rising fuel prices (with no immediate relief in sight unfortunately), hurt many of these domestic manufacturers, with General Motors reporting its sales were down 12% for the month, while Ford Motor said its sales were down 2% and DaimlerChrysler AG’s Chrysler Group said sales were down nearly 11 percent.
The other leg up that Toyota and Honda may have is the fact that they produce the most notable of hybrid cars right now, which are rising in popularity after fuel prices showed signs of instability. Hmm, maybe the good news out of this for us consumers will be some good, cheap deals on domestic cars, although the overall impact to the American economy most likely will not have a good outcome.
