Saturday, August 15, 2009

Toyota tops U.S. "cash for clunkers" sales

CHICAGO, Aug. 14 (Xinhua) -- Three major U.S. automakers lost ground to foreign rivals in the latest tally of "cash for clunkers" sales as Toyota Motor Corp. dethroned General Motors Co. (GM) as the top seller, reports reaching here said Friday.

Toyota has sold 18.9 percent of vehicles purchased through the clunkers program, surpassing GM, which has sold 17.6 percent.

As of Friday morning, U.S. dealers had submitted voucher requests for just over 1.5 billion dollars, representing 358,851 vehicle purchases.

The three major U.S. automakers -- GM, Chrysler and Ford sold 42.1 percent of all clunker replacements, which is down from an initial 47 percent of sales and slightly below the automakers' 44 percent U.S. market share.

Ford Motor Co. is in third place with a 15.4 percent market share. Honda Motor Co. is in fourth with 12.9 percent. Chrysler Group LLC's share fell to 9.1 percent, down from 10.6 percent on Aug. 5.

Foreign automakers now dominate the top 10 list of vehicles sold through the U.S. cash for clunkers program, with just two Ford vehicles on the list: the Ford Focus FWD in third and the Ford Escape FWD in seventh.

Several automakers, including GM, Ford and Toyota, have boosted production of fuel-efficient models as a result of the sales sparked by the program.

The Toyota Corolla retained the top spot overall, followed by the Honda Civic. The Toyota Camry is in fourth, followed by the Toyota Prius. Rounding out the top 10 are the Hyundai Elantra, the Honda Fit in eighth, the Nissan Versa in ninth and the Honda CR-V FWD in 10th.

About halfway through the 3 billion-dollar program, 83 percent of trade-ins are trucks and 59 percent of new vehicle purchases are cars.

On Thursday, U.S. Transportation Department approved plans to allow customers to order vehicles from automakers, a move that should benefit domestic automakers. Many dealers have reported shortages of fuel efficient U.S. vehicles, in part because GM and Chrysler sharply reduced production during their stays in bankruptcy.

Last Friday, President Barack Obama signed a law adding 2 billion to the program, which was in danger of running out of the first 1 billion dollars.

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