Toyota’s US sales
In February 2019, Toyota Motor (TM), the largest Japanese automaker, reported a 5.2% YoY decline in its US sales volume to 172,748 units. In January, the company also reported a 6.6% YoY drop in its US sales volume. February 2019 was the fourth consecutive month that Toyota reported a drop in its US sales after the minor sales gains of 1.8% YoY in October 2018.
TM offers cars, utility vehicles, and trucks under two key brands, Toyota and Lexus, in the North America region. Toyota’s 2017 global vehicle sales were in the third position after the French-Japanese automaker alliance Renault-Nissan and the European auto giant Volkswagen (VLKAY), respectively.
Car and truck sales fell
Toyota’s total US car sales in February fell by 10.0% YoY to 67,256 units, while its US truck sales for the month went down by ~1.8% YoY to 105,492 units. Weakness in TM’s US truck sales along with significantly falling passenger car sales could hurt investors’ sentiments.
In 2018, Toyota’s total US sales volume fell by 0.3% YoY, which included an 11.9% drop in its passenger car sales and a 7.9% rise in its truck sales.