Toyota’s US sales in February
In February 2018, Toyota (TM), the largest Japanese automaker, reported a 4.5% YoY (year-over-year) increase in its US sales volume, to 182,195 units. In January 2018, the company’s US sales rose 16.8% YoY to 167,056 vehicles. Interestingly, Toyota’s January US sales were higher than Ford’s (F) home market sales of ~161,000 units.
In 2017, Toyota placed third according to global vehicle sales, after French-Japanese automaker alliance Renault-Nissan and European auto giant Volkswagen (VLKAY). TM offers vehicles under two key brands—Toyota and Lexus—which include cars, utility vehicles, and trucks in the US market.
Truck segment sales rise
In February, Toyota’s total US car sales fell 3.1% YoY to 74,709 units, and its US truck sales rose significantly, by ~10.5% YoY to 107,486 units. In the previous month, Toyota’s truck sales also rose, by 25.4% YoY. Despite weakness in TM’s car sales, Toyota’s total US sales rose due to its truck sales rising consistently.
Toyota’s US truck sales have grown positively YoY in 12 of the last 13 months, boosting its profit margins. In general, Toyota’s profit margins are wider than those of peers (VCR) Fiat Chrysler (FCAU), Ford (F), and General Motors (GM). In the most recent reported quarter (ended December 31, 2017), Toyota’s adjusted net profit margin was 11.1%, much better than FCAU’s 3.2%, Ford’s 5.8%, and GM’s 6.4%.
Flat US sales in 2017
In 2017, Toyota sold ~2.43 million units in the US market, reflecting a decrease of ~0.6% from its 2.45 million units sold in 2016. Last year, Toyota brand sales rose 0.5%, while Lexus brand sales fell 7.9% YoY. Continue to the next part, where we’ll look at Honda’s US sales in February 2018.