UPDATE 1-Toyota’s U.S. auto sales fall in third quarter – Reuters


FILE PHOTO: Toyota trucks are shown on a car carrier for delivery after arriving in the United States in National City, California, U.S. June 27, 2018. REUTERS/Mike Blake

(Reuters) – Toyota Motor Corp 7203.T on Thursday reported an 11% fall in U.S. new vehicle sales in the third quarter, weighed down by a two-month industry-wide production shutdown in the spring to halt the spread of COVID-19.

Consumer demand for high-profit sports utility vehicles and pickup trucks in the United States has recovered rapidly since hitting a pandemic-fueled bottom in April, pushing automakers to ramp up production and boost lean inventories at dealerships.

However, rising COVID-19 cases in the United States have increased the uncertainty over a speedy economic recovery.

The Japanese automaker said it sold 558,449 vehicles in the quarter in the United States, compared with 627,194 a year earlier.

Rival Fiat Chrysler Automobiles NV FCAU.NFCHA.MI reported a 10% fall in U.S. sales to 507,351 vehicles in the third quarter.

Reporting by Rachit Vats in Bengaluru; editing by Uttaresh.V and Maju Samuel



READ SOURCE

READ  Bentley names VW tech chief as new engineering boss

LEAVE A REPLY

Please enter your comment!
Please enter your name here