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