Toyota July Auto Sales Slip 20%

- Toyota July Auto Sales Slip 20%



Aug 2, 2011

Toyota Motor Sales USA Inc.(NYSE:TM) announced Tuesday that its July U.S. sales fell 22.7% as it continued to deal with parts shortages stemming from the March earthquake and tsunami in Japan.

Toyota sold 130,802 vehicles in July, compared to the 169,224 in the same month last year.

The Japanese automaker sold 27,016 of its Camry car, 22.9% down from 35,058 in July 2010.

Corolla sales dropped 35.7% to 17,577, while sales of the Prius hybrid, which is made only in Japan, tumbled 43.9% to 7,907.

Sales of the Sienna minivan rose 2.3 percent to 10,620.

Toyota Motor has a potential upside of 12.7% based on a current price of $81.96 and an average consensus analyst price target of $92.4.

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Chrysler Group Reports June Sales Up 30% From June 2010

- Chrysler Group Reports June Sales Up 30% From June 2010



Jul 1, 2011

Chrysler Group LLC reported U.S. sales of 120,394, a 30% increase over June of 2010 and its best month since 2007.

Reid Bigland, Head of U.S. Sales for Chrysler said, "Thanks to our alliance with Fiat, we now have 12 models that have EPA-rated highway fuel economy of 25 miles per gallon or higher, and four of those models get 30 mpg or more. This business is all about product and consumers are rapidly discovering everything we now have. Each Chrysler Group brand is contributing to our success and driving our 46 percent retail sales growth."

The company's Jeep brand posted a 74% year-over-year sales increase, the largest of Chrysler Group brands.

For the first six months of the year, Chrysler's sales are up 21% from 2010.

The company finished the month with a 68-day supply of inventory, 314,065 units. Chrysler estimates industry-wide sales figures for the month of June were at a seasonally adjusted annual rate of 11.8 million.

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Toyota Announces Temporary Shutdown of All North American Factories "Inevitable" (TM)

Toyota Announces Temporary Shutdown of All North American Factories "Inevitable" (TM)




Toyota Motor Co (NYSE:TM) announced earlier today that they will have to close down all of their North American factories by the end of this month due to a parts shortage caused by the damage from the Japanese earthquake and tsunami.

The temporary shutdown of the company's 13 factories in North America is inevitable, the company said. How long the production stoppage will last is unknown. 25,000 workers will be affected, but no layoffs are expected.

The factories have been using parts from their inventories and those that were shipped before the disaster, but those supplies are running out.

Spokesman Mike Goss said, "We're going to get to a point this month where that gap in the pipeline starts to show up. So we'll have to suspend production for a while,"

Toyota gets about 15% of the parts for cars and trucks built in North America from Japan, "but still you have to have them all to build the vehicles," Goss said.

Shares of Toyota Motor are trading down 1.29% at $79.47.

General Motors to develop Buick plug-in hybrid

General Motors to develop Buick plug-in hybrid



General Motors (GM) is developing a Buick using the Chevrolet Volt's plug-in hybrid technology, reports Bloomberg. According to two people familiar with the project, designers are working on a version of the hybrid Opel Ampera scheduled for sale in Europe this year. The Buick version would go on sale in 2013 if it receives final approval.

Honda, Toyota extend Japan production halt

Honda (HMC) and Toyota (TM) are extending their shutdown of auto production in Japan due to a shortage of parts following a major earthquake and tsunami, the Associated Press reports. Toyota says its shutdown of 11 factories will be extended until Saturday because of difficulty securing components, while Honda will continue its production halt through Sunday

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