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 DETROIT (AP) - When gasoline prices rise, the biggest beneficiary in the auto industry seems to be Toyota. Riding record sales of its Prius hybrid and increased sales of the Camry, Corolla, Yaris and other cars, Toyota posted a U.S. sales gain of 14.1 percent in May for its highest monthly total ever.
With gasoline prices topping $3 per gallon nationwide, Toyota Motor Corp. sold just over 24,000 gas-electric Priuses, a whopping 185 percent increase over last May, the company said Friday.
The Prius, which gets an estimated 55 miles per gallon in combined city and highway driving, helped boost Toyota's U.S. sales above Ford Motor Co., which saw a decline of 6.9 percent as it continued to cut low-profit sales to rental companies.
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