How Toyota Managed to Post Solid July 2017 US Sales
Toyota’s US sales in July
In July 2017, Toyota (TM), the largest Japanese automaker, reported a year-over-year (or YoY) rise of about 3.6% in its US sales to 222,057 vehicle units. In June, the company’s US sales also rose 2.1% YoY to 202,376 vehicles. July was the second consecutive month that Toyota’s US sales rose. The company has reported US sales declines in ten out of the last 15 months.
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Toyota sells its vehicles in the US market under two key brands, Toyota and Lexus, which include cars, utility vehicles, and trucks.
Truck sales jumped up
Toyota Motor’s total US car sales were at 90,257 vehicle units, down 11.5% YoY, which affected the company’s overall US sales in July. On the brighter side, its July US truck segment sales stood firm at 131,800 units with a significant rise of 17.4% YoY. July was the best month of 2017 so far for Toyota’s truck sales.
Interestingly, Toyota’s US truck segment sales have been rising on a YoY basis for the last consecutive months, which should be positive for its profit margins. Toyota Motor’s profit margins are already higher than those of peers like General Motors (GM), Ford (F), and Fiat Chrysler (FCAU).
YTD sales in the US market
In the first seven months of 2017, Toyota has sold about 1.4 million vehicle units in the US market on a YTD (year-to-date) basis, which reflected a drop of about 2.5% from 1.4 million vehicle units sold during the same period of 2016. On a YTD basis, the sales of Toyota brand vehicles were down 1.5% YoY, while Lexus brand’s sales fell 9.4% YoY.
Continue to the next part where we’ll find out how Honda Motor’s US sales were in July 2017.