Toyota’s US Sales in January
In January 2018, Toyota Motor (TM), the largest Japanese automaker, reported a handsome YoY (year-over-year) rise of 16.8% in its US sales volumes to 167,000 units. In December 2017, the company’s US sales fell 8.3% YoY to 223,000 vehicles.
January was the first month of YoY gains for Toyota’s US sales after they saw weakness in the previous two months.
In 2017, Toyota’s global vehicle sales were in third place after French-Japanese automaker Renault–Nissan–Mitsubishi Alliance and European auto giant Volkswagen (VLKAY). TM offers vehicles under two key brands in the US market: Toyota and Lexus, which include cars, utility vehicles, and trucks.
Truck segment sales jumped
Toyota’s total US car sales rose 5% YoY to 64,000 units in January 2018. Its US truck sales for the month rose a significant ~25.4% YoY to 103,000 units. In the previous month, Toyota’s truck segment sales fell 12.2% YoY.
A recovery in TM’s car sales and a sizable jump up in its truck segment sales were the key drivers of its total US sales rise in January 2018. Interestingly, Toyota’s January US sales volumes were even higher than those of the second-largest US automaker, Ford Motor Company, which sold 161,000 vehicle units in the month.
Toyota’s US truck sales have grown YoY in 11 out of the last 12 months, boosting its profit margins. Note that Toyota Motor’s profit margins are already higher than those of its peers (IYK) Fiat Chrysler Automobiles (FCAU), Ford Motor Company (F), and General Motors (GM). In its most recent reported quarter, which ended on December 31, 2017, Toyota’s adjusted net profit margin was 11.1%, much better than GM’s 6.4%, FCAU’s 3.2%, and Ford’s 5.8%.
2017 US sales
In 2017, Toyota sold ~2.4 million units in the US market. These data reflected a ~0.6% volume decrease compared to the ~2.5 million units the company sold in the previous year. Last year, the sales of Toyota brand vehicles rose 0.5%, while Lexus brand sales fell 7.9% YoY.
Continue to the next article to learn about Honda Motor Company’s US sales in January 2018.