Toyota Retains Top-Selling Car Title for 4th Straight Month
Toyota Prius ranked number one selling car in Japan in August following the release of the data by the Japan Automobile Dealers Association, showing that the company were able to sell some 21,669 units overtaking top rival Honda's Fit Compact sedan.
The huge sale turnout was due to the government assisted programs for the auto industry.
Toyota Motor Co.’s Prius hybrid has ranked as the top-selling car in Japan for the fourth straight month as the Japan Automobile Dealers Association released the latest results of auto sales in August.
According to the data released by the group, Toyota was able to sell 21,669 units of its Prius hybrid vehicles topping the list of other Japanese car models.
Meanwhile, Honda Motor Co.’s Fit Compact sedan ranked number two in terms of sales last August.
In a statement, the gas-electric hybrid association said that the strong sales of Japanese car models can be attributed to the high subsidies provided by the government, aside from the high tax cuts imposed to the industry.
Earlier, Toyota announced that it will cut its global capacity by 1 million vehicles in a bid to utilize underused plants.
Japan’s biggest automaker said that it will shut down its New United Motor Manufacturing Inc plant, which is under a joint venture with GM.
With the proposed cut, Toyota’s production will be limited to some 9 million vehicles worldwide but it will help the company to break-even with the 70 percent efficiency and would push it back to operating profit in 2010.
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