Toyota’s US Sales Rise for a 5th Consecutive Month
Toyota’s US sales in October
In October 2017, Toyota Motor (TM), the largest Japanese automaker, reported a 1.1% YoY (year-over-year) rise in its US sales to 188,434 units. In September, the company’s US sales also rose significantly, by 14.9% YoY to 226,632 units.
October 2017 was the fifth consecutive month in which Toyota’s US sales rose YoY despite weaker industrywide sales. In 2016, Toyota had the second-highest vehicle sales globally, placing after European auto giant Volkswagen (VLKAY). In the US market, Toyota Motor offers vehicles under two key brands, Toyota and Lexus, which include cars, utility vehicles, and trucks.
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Impressive gains in truck sales
In October, Toyota’s total US car sales stood at 72,145 units, down 0.5% YoY. On the brighter side, its US truck sales rose significantly, by ~14.1% YoY to 116,289 units. In the previous month, Toyota’s truck sales rose 28.5% YoY. Toyota’s US truck sales have risen YoY for the last nine months, which is positive for its profitability. Toyota Motor’s profit margins are already larger than those of peers (IYK) Fiat Chrysler Automobiles (FCAU), Ford Motor (F), and General Motors (GM).
Positive US sales this year
Toyota sold about 2.01 million units in the US market in the first ten months of 2017, reflecting a 0.6% rise from the 2 million units sold in the same period of 2016. This year, Toyota brand vehicles have risen 1.7% YoY, while the Lexus brand’s sales have fallen 7.1% YoY. Continue to the next part, where we’ll look at Honda’s US sales in October 2017.