Market Overview

Toyota Reports August Sales Decreased 5% Year-Over-Year, Says 'Industry Took A Step Back In August'

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Toyota Motor Corp's (NYSE: TM) sales volume in the United States recorded a 5 percent drop on a year-over-year basis to 213,125 units. The monthly sales come on the heels of Ford Motor Company (NYSE: F) and General Motors Company (NYSE: GM) reporting a similar drop of 8.4 percent and 5 percent, respectively, in August.

The Japanese firm's American division said Toyota recorded sales of 182,187 vehicles in August representing 4.6 percent drop on a volume and DSR basis. Its other division, Lexus, also posted 7.6 percent drop in sales to 30,938 units on a volume and DSR basis.

Toyota Division's group VP and GM, Bill Fay, said, "Coming off the strongest SAAR of the year at 17.9M units in July, the industry took a bit of a step back in August. RAV4, 4Runner and Highlander all recorded strong year-over-year growth for the month, keeping Toyota Division light truck sales on track for another record year."

The company indicated that its Highlander posted biggest ever sales to record 12.2 percent growth, while Land Cruiser sales jumped nearly 65 percent. For the second straight month, TCUV reported best-ever sales. Other brands to record growth included NX, GX and LX.

The stock traded up by $0.27, or 0.22 percent, to $120.90.

Posted-In: News Retail Sales Trading Ideas

 

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