Automakers See May Sales Slump

Executives hold hope for revival of battered industry

toyotaprius

Toyota

Toyota reported a sales drop of 40% in May, compared with a year ago, selling 152,583 vehicles.

“We’re encouraged that consumers are beginning to return to showrooms and that the industry continues to show signs of stabilization,” said Don Esmond, a vice president at the company.

The Toyota division reported sales of 135,661 in May, a decrease of 39% from the same period last year, while the Lexus division reported sales of 16,922, a drop of 33.9% from a year ago.

Sales in Japan for Toyota’s new third-generation Prius hybrid have been booming.

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