Toyota’s US sales in November
In November 2017, Toyota Motor (TM), the largest Japanese automaker, reported a 3% YoY (year-over-year) fall in its US sales to 191,617 vehicles. In October, sales rose significantly by 1.1% YoY to 188,434 units.
Before November, Toyota reported YoY US sales gains in the previous five months despite weaker industrywide sales. In 2016, Toyota’s global vehicle sales were second after European auto giant Volkswagen (VLKAY).
In the United States, Toyota sells vehicles under two key brands—Toyota and Lexus—which include cars, utility vehicles, and trucks.
Truck sales still strong
Toyota’s total US car sales in November fell 10.1% YoY to 76,916 units. On the positive side, its US truck sales for the month rose 2.3% YoY to 114,701 units. In October 2017, its truck segment sales rose 14.1% YoY.
Toyota’s US truck sales have been rising on a YoY basis for ten consecutive months, which is a positive factor for its profit margins. Toyota’s profit margins are already higher than its peers (IYK), including Fiat Chrysler (FCAU), Ford (F), and General Motors (GM). In the most recent reported quarter, Toyota’s adjusted net profit margin was 6.4%, which was much better than GM’s 5.8%, Ford’s 5.2%, and FCAU’s 3.5%.
Positive YTD US sales
Toyota has sold about 2.21 million units in the US market in the first 11 months of 2017. That reflects a YTD (year-to-date) volume increase of 0.2% from 2.2 million units sold during the same period last year. On a YTD basis, sales of Toyota vehicles rose 1.3%, while Lexus sales fell 7% YoY.
In the next part, we’ll see how Honda’s US sales were in November 2017.