Toyota Motor’s US September Gross sales Drop; Electrified Autos Account For Practically 50% Of Gross sales

Toyota Motor Company (NYSE:TM) shares are buying and selling barely decrease on Tuesday after the corporate reported U.S. September and third-quarter sales results.

Toyota Motor North America (TMNA) reported U.S. gross sales of 162,595 automobiles in September, a decline of 20.3% in quantity and 9.9% on a every day promoting charge foundation.

“In September, practically 50 p.c of our whole gross sales quantity was an electrified mannequin, an achievement made attainable by our excellent workforce and sellers,” mentioned Jack Hollis, government vp, Gross sales, TMNA.

In September, electrified car gross sales—together with hybrids, plug-in hybrids, pure electrics, and gas cells—accounted for 48.4% of whole gross sales, totaling 78,683 models. This represents a 22.4% improve in quantity and a 38.3% rise on a every day promoting charge foundation.

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Toyota division posted September gross sales of 140,152 automobiles, down 21.1% on a quantity foundation and down 10.8% on a DSR foundation.

For the third quarter, the division bought 461,883 automobiles, down 10.4% on a quantity foundation and down 8.0% on a DSR foundation.

Lexus division posted September gross sales of twenty-two,443 automobiles, down 14.5% on a quantity foundation and down 3.4% on a DSR foundation. For the third quarter, the division bought 80,989 automobiles, up 8.1% on a quantity foundation and up 11.0% on a DSR foundation.

“With 30 electrified automobiles now at Toyota and Lexus dealerships, Lexus gross sales recording its best-ever year-to-date lead to its 35-year historical past, the all-new all-hybrid Toyota Camry a success with prospects, and Toyota remaining the primary retail model within the trade, we’re getting ready to shut out 2024 on a excessive be aware whereas persevering with to concentrate on our prospects,” Hollis added.

Worth Motion: TM shares are buying and selling decrease by 0.54% to $177.60 eventually test Tuesday.

Photograph by RYO Alexandre on Shutterstock

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