Inflation weary Americans snapped up fuel-sipping hybrids made by Japanese and South Korean automakers this spring, contributing to a gas-electric sales bonanza for Toyota Motor and a sales decline for General Motors.
A nearly 20% increase in hybrid sales helped lift Toyota¡¯s U.S. deliveries about 1% in the second quarter. That was despite a slow ramp-up of the newest version of the Japanese carmaker¡¯s top-selling RAV4 SUV. Toyota now only sells the model as a hybrid, as the company moves away from vehicles powered solely by gasoline in key segments.
General Motors, whose only hybrid is a low-volume version of the Chevrolet Corvette, posted a 4.2% decline in the most recent quarter. All four of its largest popular SUVs, which along with its full-size pickups that generate large profit margins, saw declines, with the Chevrolet Suburban sinking 20%.
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