Toyota's Global Sales Drop For 4th Straight Month In September As US, China Sales Tumble Due To Recalls, Price War
Portfolio Pulse from Anan Ashraf
Toyota's global sales dropped for the fourth consecutive month in September, with significant declines in the US and China due to recalls and a price war. Despite this, Toyota's electrified vehicle sales increased by 16%.
October 30, 2024 | 7:20 am
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Toyota's global sales fell 7.4% in September, marking the fourth consecutive month of decline. US sales dropped 20.3% due to recalls and weather impacts, while China sales fell 9.2% amid a price war. However, electrified vehicle sales rose by 16%.
The decline in sales in major markets like the US and China, due to recalls and competitive pressures, is likely to negatively impact Toyota's stock in the short term. However, the increase in electrified vehicle sales could provide some positive sentiment.
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