Toyota Motor North America September U.S. Sales 162,595 Vehicles, Down 20.3% On Volume Basis; U.S. EV Sales 78,683 Vehicles, Up 22.4% On Volume Basis
Portfolio Pulse from Benzinga Newsdesk
Toyota Motor North America reported a 20.3% decrease in U.S. vehicle sales for September, totaling 162,595 vehicles. However, their U.S. electric vehicle (EV) sales increased by 22.4%, reaching 78,683 vehicles.
October 01, 2024 | 3:36 pm
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Toyota's overall U.S. sales fell by 20.3% in September, but its EV sales rose by 22.4%. This indicates a shift towards EVs, which could be positive for the company's long-term strategy despite short-term sales decline.
The decline in overall sales may negatively impact short-term stock performance, but the significant increase in EV sales suggests a positive long-term trend. Investors may view the EV growth as a strategic shift towards future market demands.
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