Toyota U.S. Sales In March Up 5% - Update

(RTTNews) - Japanese automaker Toyota Motor Corp. (TM), Tuesday said its sales for March rose about 5 percent, as the fading harsh winter made shoppers return to auto showrooms.

"Solid March sales pushed first-quarter industry results ahead of last year's pace despite one of the harshest winters on record," said Bill Fay, Toyota division group vice president and general manager. "Toyota dealers had their two best sales weekends of the year late in the month, and we're optimistic that momentum will spring us into April."

Toyota said its U.S. March sales rose to 215,348 units from 205,342 units last year. The month had 26 selling days against 27 days last year. On a daily selling rate basis, which adjusts for the difference in the number of selling days, March sales increased 8.9 percent.

At its namesake Toyota division, sales rose 2.5 percent to 186,755 units from 182,152 units, while sales at Lexus segment surged 23.3 percent to 28,593 units from 23,190 units last year.

Car sales at Toyota division dropped 2.9 percent to 103,888 units, hurt by weak sales of Corolla, Prius and Avalon, but partly offset by continued demand for Camry.

Lexus car division sales jumped 26.2 percent to 16,387 units, as IS and GS sedans grew grew 117 percent and 32 percent, respectively.

Jeff Bracken, Lexus group vice president and general manager, said, "New products are driving the growth in the luxury segment. IS sales more than doubled in March and helped push Lexus to one of the biggest increases in the industry for the month."

Truck sales at Toyota division rose 10.3 percent to 82,867 units, on strong sales of pickup truck Tundra, and crossovers RAV4, FJ Cruiser, Highlander and 4Runner.

Lexus truck sales improved to 19.6 percent to 12,206 units, as sales of crossover SUV Lexus RX, GX and LX improved.

TM is currently trading at $113.18, up $0.28 or 0.25%, on the NYSE.