Automaker Sees Mixed Results in Latest Sales Report
Toyota Motor Corporation’s stock price took a slight dip on Tuesday following the release of its US sales figures for September and the third quarter. The company’s North American division reported a total of 162,595 vehicle sales in September, representing a 20.3% decline in volume and a 9.9% drop on a daily selling rate basis.
Despite the overall decline, the company saw a significant surge in electrified vehicle sales, which accounted for nearly half of its total sales volume. A total of 78,683 electrified vehicles were sold in September, marking a 22.4% increase in volume and a 38.3% rise on a daily selling rate basis.
The Toyota division reported sales of 140,152 vehicles in September, down 21.1% on a volume basis and 10.8% on a daily selling rate basis. Meanwhile, the Lexus division saw sales of 22,443 vehicles, down 14.5% on a volume basis and 3.4% on a daily selling rate basis.
However, the company remains optimistic about its performance, citing the success of its electrified models and the strong year-to-date results of its Lexus division. “With a wide range of electrified options now available at our dealerships, we’re confident that we can close out the year on a strong note,” said Jack Hollis, executive vice president of Sales at Toyota Motor North America.
As of Tuesday, Toyota Motor Corporation’s stock price had fallen 0.54% to $177.60.
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