| Asian automakers won a record share of U.S. | | | | Prius hybrid has spurred Toyota as gasoline |
| sales in June, aided by demand for | | | | prices surpassed $3 a gallon in the U.S. for |
| fuel-efficient cars. | | | | a third straight year. According to AAA's |
| | | | Daily Fuel Gauge Report, this year's average |
| According to the data compiled by Bloomberg, | | | | price is $2.953 nationwide, compared with |
| the Japanese and South Korean companies last | | | | last year's $2.926. |
| year boosted sales of 11 to 42.7 percent of | | | | |
| the U.S. market. For Nissan, sales increased | | | | Jim Lentz, executive vice president of |
| 23 percent, 11 percent for Honda and 10 | | | | Toyota's U.S. sales unit, said in a |
| percent for Toyota. On the same data, market | | | | conference call their incentive actions are |
| share for the U.S. brands of General Motors | | | | being driven by the segment. He added that |
| Corp., Ford Motor Co. and Chrysler dropped to | | | | they still use incentives only when |
| a record low 50.3 percent. | | | | necessary. |
| | | | |
| As new products and improvements in quality | | | | auto analyst Jesse Toprak called the Tundra |
| surveys for U.S.-based rivals failed to | | | | discounts "unusually'' high for a Toyota |
| translate into higher sales, the Asian makers | | | | model fewer than 6 months old. In an |
| gained in terms of sales. Jack Nerad, Kelley | | | | interview, he said the Tundra discounts show |
| Blue Books' senior market analyst, said U.S. | | | | how determined Toyota is to grab market share |
| consumers view vehicles from the Asian | | | | in the profitable truck segment. |
| companies more favorably. He explained that | | | | |
| there is still the perception of quality and | | | | With a record of 16.9 percent, Toyota's |
| reliability for the Asians that the domestic | | | | market share in June climbed 2 percentage |
| makers do not seem to be able to par, and | | | | points from a year earlier. |
| that any fuel-price increase is always a | | | | |
| positive for the Asians, specifically for the | | | | Honda, maker of quality Honda shifter |
| Japanese. | | | | increased sales to 140,935 vehicles in June |
| | | | from 126,449 a year earlier. Its Civic small |
| In January, the record for Asian market share | | | | cars and CR-V spurred the Tokyo-based |
| was 42.1 percent. In June, sales declined 21 | | | | company's sales increase with 39 percent and |
| percent at GM, 8.1 percent at Ford and 1.4 | | | | 59 percent increases, respectively, the CR-V |
| percent at DaimlerChrysler AG's Chrysler. | | | | being the best-selling sport-utility vehicle |
| Total industry sales fell 3 percent to 1.46 | | | | in the U.S. |
| million. | | | | |
| | | | An 8.4 percent U.S. market share increase for |
| Aided by U.S. growth, Toyota overtook GM in | | | | the month was earned by Honda and Acura |
| the first quarter's global vehicle sales. | | | | autos. |
| Moreover, the Toyota City, a Japan-based | | | | |
| company, is gaining on Ford to become No. 2 | | | | Nissan reported its biggest monthly gain in |
| in the U.S. | | | | more than a year. |
| | | | |
| In June, Toyota sold a record 245,739 cars | | | | Hyundai Motor Co., South Korea's largest |
| and light trucks (200 fewer than Ford) in the | | | | automaker, said sales increased 11 percent |
| U.S. | | | | with 49,368 vehicles sold. Ranking seventh in |
| | | | U.S. sales, Hyundai raised its market share |
| Ford held a 39,558-vehicle lead during the | | | | to 3.4 percent, a 0.4-point gain. |
| first half. And it is only about a 10th of | | | | |
| its 319,208- unit advantage in 2006. | | | | Kia Motors Corp., a Hyundai affiliate, sold |
| | | | 26,288 vehicles, a 4.2 percent drop. Kia's |
| Demand for fuel-efficient vehicles like the | | | | market share remained at 1.8 percent. |