Toyota Motor Corp. extended discounts that brought back-to-back U.S. sales increases, and Nissan Motor Co. led the largest Asia-based carmakers’ gains for the second month in a row as auto demand continued recovering in April, Bloomberg reported.
Deliveries for Nissan rose 35 percent from a year earlier, while Toyota yesterday reported a 24 percent advance after continuing no-interest loans and discount leases on most of its namesake brand’s models in April. Honda Motor Co. posted a 13 percent increase and Hyundai Motor Co. sales were up 30 percent.
“Toyota’s incentives pretty much set the pace,” said James Bell, executive market analyst for Kelley Blue Book in Irvine, Calif. “Everybody being up a little bit is tied to the Toyota program -- it’s raising the tide for the industry.”
Toyota recalls of more than 8 million autos globally for flaws linked to unintended acceleration and congressional hearings that tainted its image led the world’s largest automaker in March to introduce discounts across its lineup. For now, that strategy will remain in place.
The Tokyo Stock Exchange is closed for a holiday. Hyundai rose 3,500 won, or 2.6 percent, to 138,000 won in Korea Stock Exchange trading. Affiliate Kia Motors Corp., which boosted sales 17 percent, gained 1,150 won, or 4.1 percent, to 28,950 won in Seoul.
U.S. industrywide auto sales rose 20 percent in April to 982,131 cars and light trucks, according to Autodata Corp., a research firm based in Woodcliff Lake, New Jersey. U.S. sales have risen for six consecutive months.
The Asia-based brands boosted their combined U.S. market share to 46.5 percent, a 1 percentage point gain from a year earlier, Autodata said.
General Motors Co., Ford Motor Co. and Chrysler Group LLC, the U.S.-based automakers, held 45 percent, a one-point drop. Sales rose 6.4 percent for GM and 25 percent each for Ford and Chrysler.
Toyota sold 157,439 Toyota, Lexus and Scion vehicles last month, rising from 126,540 a year earlier. The Toyota City, Japan-based company said the increases were led by Corolla small cars, Prius hybrids, Avalon sedans, Highlander and RAV4 sport- utility vehicles, and Sienna minivans.
The automaker, which last month recalled Lexus GX 460 SUVs to adjust stability controls, is expanding production of most models in North America because of rising demand, Carter said.
Nissan reported sales of 63,769 Nissan and Infiniti vehicles, an increase from 47,190. The Yokohama, Japan-based company had the biggest volume increase among Japanese and South Korean automakers in the U.S. this year through April.
Small cars such as the Versa and Sentra posted percentage gains of more than 38 percent, while sales of light trucks including Frontier and Titan pickups and Murano, Rogue, Pathfinder and Armada SUVs were “surprisingly strong,” said Al Castignetti, Nissan’s vice president of U.S. sales.
