Toyota is on the move again posting its first monthly sales increase since April, topping analysts’ estimates with the best U.S. light-vehicle sales pace in more than two years.
Toyota deliveries rose 6.7 percent in November stated the automaker.
Sales of the Prius hybrid rose 49 percent to 15,208 and deliveries of the new 2012 Camry sedan climbed 13 percent to 23,440. The automaker exceeded five analysts’ average estimate for a 5 percent increase in November deliveries.
Four of the six largest automakers beat sales expectations, boosting industry sales to a 13.6 million seasonally adjusted annualized rate. Pace exceeded the 13.4 million average estimate of 14 analysts surveyed by Bloomberg and is the best month since sales were helped by Cash for Clunkers in August 2009.
Some believe that consumers have been waiting for a surge. Several analyst in the industry believe that the cars consumers are driving are getting older and people are beginning to reach a point where they need or want to replace them. There is recession out there but there is a growing fatigue and people want to buy if they can.