Despite lackluster sales last month, Toyota says it predicts an upswing in demand that will require it to increase North American production of the majority of its mainstream products. Toyota’s sales were off by nearly 40 percent last month, compared to the year before, but the automaker says its retail sales are showing signs of improvement.
Speaking to the media during a teleconference, Toyota Division general manager Bob Carter said that retail sales are looking up. Presumably, much of the drop-off in sales was due to reduced fleet sales. Ford and General Motors, among others, have also reported dramatically reduced fleet sales.
Toyota says it will increase production in North America by about 65,000 units. The automaker plans to build more Camry, Corolla, Sienna, RAV4, Tacoma and Tundra vehicles – all of which are built in either the United States or Canada.
Carter said that inventory has fallen to just 41 days’ supply, down from the 62 days at the beginning of May.
