Toyota Motor Corp.'s U.S. sales fell less than analysts predicted last month, as the world's largest carmaker offered near-record incentives to spur demand.
Toyota's U.S. sales dropped 39 percent in March compared with the 41 percent decline expected by analysts in a Bloomberg survey. The carmaker's incentives per vehicle jumped 88 percent to $1,600 (¥158,000), from a year ago, according to research firm Edmunds.com.
U.S. industrywide sales fell 37 percent from a year earlier, though they rose from February's 27-year low on higher incentive spending, pent-up demand and signs the U.S. government will move to stimulate auto purchases. Honda Motor Co. and Nissan Motor Co. also beat analysts' expectations and took market share from U.S. rivals.