(July 4, 2012) Paced by Toyota and Honda, U.S. vehicle sales rose 22 percent in June compared to June 2011. Automakers sold 1.29 million cars and light vehicles as the seasonally adjusted annual sales rate rebounded from May's 13.8 million to hit 14.1 million, well above forecasts.

Toyota and Honda continued to rebound strongly from last year's earthquake with sales gains of 60 percent and 49 percent, respectively.

"We expect to see continued stability in the automotive market during the second half of 2012 thanks to pent-up demand, low interest rates and a continued influx of new products," said Bob Carter, general manager of Toyota Motor Sales.

General Motors benefited from a 30 percent increase in crossover deliveries and rising fleet sales in recording its biggest gain in nine months — 16 percent.

Nissan was up 28 percent and Chrysler Group rose 20 percent — its 13th straight month with a gain at least that high. At Ford Motor Co., June sales advanced 7 percent.

"The combination of new products, available credit, lower fuel prices and modest economic growth was a stronger influence on consumer behavior than economic and political uncertainty," said Kurt McNeil, vice president of U.S. sales for GM.

Analysts surveyed by Bloomberg expected light-vehicle sales in June to run at a 13.8 million seasonally adjusted annualized rate. Prior to May's dip, the 2012 annualized rate of sales had averaged 14.5 million through April. In June 2011, the annualized sales rate was 11.6 million.

Toyota said it sold 177,795 Toyota, Lexus and Scion vehicles in June. The 60 percent increase followed an 87 percent surge in May sales. Sales at the Toyota division jumped 55 percent.

Honda said its June sales jumped 49 percent. The Honda brand's three core products — Accord, Civic, and CR-V — each posted sales gains of 50 percent or more.

Sales at the Honda division advanced 46 percent while Acura volume jumped 77 percent.

"With robust inventories and great customer demand, it feels good to be back in the race," said John Mendel, American Honda's head of sales.

Kia reported a 14 percent increase and corporate sibling Hyundai advanced 8 percent.

Source: Automotive News