Toyota Prius hybrid sales in Japan reached 33, 398 units in July, leading the model to the top of Japan’s best sold cars rankings for the straight 14th month.
On the second place is Toyota Aqua hybrid, with 26,274 units sold. Toyota’s hybrid models hold the top two positions of the sales rankings for four months in a row. Honda’s Fit subcompact is on the third place, with 24,153 units sold, from which 55% being hybrid models. Demand for hybrid cars is still high due to government’s tax breaks and sales incentives meant to encourage and attract customers of environmentally friendly vehicles.
Toyota managed to quickly recover from last year’s disasters and it even raised its sales target for 2012 to a record 9.76 million vehicles. The company reported April-June profit of an amazingly 290.3 billion yen ($3.7 billion) from 1.1 billion yen in 2011, and the new sales target would account for a 23% increase from the 7.95 million vehicles sold last year and 180,000 more units than the auto maker forecast in February.
Analysts expect Toyota’s earnings to increase annually to 43.7% in the next five years. during the first quarter the company’s revenue increased 67.3% globally, and over 80% in Japan and North America.