Toyota Motor Corp. and Honda Motor Co.’s surveyed by Bloomberg

Toyota Motor Corp. and Honda Motor Co.’s return to full production this month is boosting U.S. auto sales back near the pace reached before Japan’s earthquake.

September light-vehicle sales, to be released Oct. 3, probably rose to a 12.8 million seasonally adjusted annual rate, the average estimate of 14 analysts surveyed by Bloomberg. That would be the fastest pace since April, when lost output caused by Japan’s tsunami crimped supply of parts and finished cars.

“Recovering inventory levels have helped to bring buyers back into the market,” said Jeff Schuster, executive director of global forecasting at J.D. Power & Associates.

Jesse Toprak, who develops forecasts at TrueCar.com, went so far as to title his latest report “What Recession?” as the auto rebound defies consumer confidence that is near a two-year low. Toyota has said it expects to reverse monthly U.S. sales declines beginning next month, and Honda is adding overtime shifts at two Ohio plants. Better supply also probably meant incentives rose from the lowest in almost six years.

“The big story this month was better inventory and favorable pricing” for consumers, said Jessica Caldwell, an analyst at Santa Monica, California-based Edmunds.com.

Sales declines at Toyota and Honda contributed to the U.S. auto sales pace slowing from a 13.1 million rate averaged in the year’s first four months to as low as 11.6 million in June, according to researcher Autodata Corp.

http://www.bloomberg.co
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