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Toyota leads US car sales to best month in four years | Toyota leads US car sales to best month in four years |
(35 minutes later) | |
New car sales in the US posted the best month in more than four years, with Toyota Motor showing the biggest rise. | New car sales in the US posted the best month in more than four years, with Toyota Motor showing the biggest rise. |
Toyota saw sales rise 42% in September. Honda reported a jump of 31%, while Chrysler sales increased 12%. | Toyota saw sales rise 42% in September. Honda reported a jump of 31%, while Chrysler sales increased 12%. |
Analysts said buyers in the US were taking advantage of low interest rates and cheap financing. | |
The US car industry's recovery has been a boon to the US economy in recent months. | The US car industry's recovery has been a boon to the US economy in recent months. |
Increased demand | Increased demand |
Industry-wide sales were up 12.8% in September compared to a year earlier, to 1.19 million cars and light trucks. | Industry-wide sales were up 12.8% in September compared to a year earlier, to 1.19 million cars and light trucks. |
Calculated on an annualised basis that is 14.94 million vehicles, the highest rate since March 2008 according to Autodata. | Calculated on an annualised basis that is 14.94 million vehicles, the highest rate since March 2008 according to Autodata. |
Analysts said the increased demand for passenger vehicles comes after consumers in the US delayed buying new cars during the recession which went on till 2009. | Analysts said the increased demand for passenger vehicles comes after consumers in the US delayed buying new cars during the recession which went on till 2009. |
That pushed the age of vehicles on the road up, and now those consumers are looking for replacement cars. | That pushed the age of vehicles on the road up, and now those consumers are looking for replacement cars. |
"I think in general with the economy chugging along at about 1.5% to 2% that we are gradually seeing people come back," said Ford chief economist Ellen Hughes-Cromwick. | "I think in general with the economy chugging along at about 1.5% to 2% that we are gradually seeing people come back," said Ford chief economist Ellen Hughes-Cromwick. |
Japanese carmakers continue to show the biggest gains as they rebound from a supply shortage caused by the earthquake and tsunami in March 2011. |
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