Bahrain
Kuwait
Oman
Middle East
GDN Online App available on
App Store / Play Store
Gulf Daily News Gulf Daily News
Gulf Daily News Gulf Daily News Gulf Daily News Gulf Daily News Gulf Daily News
Wednesday, February 20, 2019 ARCHIVES  |  SEARCH  |  POST ADS  |  ADVERTISE  |  SUBSCRIBE   |  LOGIN   |  CONTACT US

Toyota U.S. auto sales fall 6.6 percent in January

International Business
Sun, 03 Feb 2019
Reuters


 Toyota Motor Corp on Friday reported a 6.6 percent fall in U.S. vehicle sales for January, hurt by lower demand for its Camry and Prius cars.

The No.3 automaker in the United States by sales said it sold 156,021 vehicles in January, down from 167,056 vehicles a year earlier. Camry sales fell 3.4 percent, while Prius sales slumped 57 percent, the company said.

Auto industry consultants J.D. Power and LMC Automotive forecast January auto sales to decline about 1 percent from the same month in 2018, partly due to uncertainty over the recent government shutdown.

The auto consultants also forecast total light vehicle sales this year to fall 1.9 percent to about 17 million units, compared with 2018.

However, major automakers are bullish about 2019 sales even as economists warned that rising interest rates would discourage consumers from buying cars this year.

General Motors Co and Ford Motor Co, the two biggest automakers that together commanded a 32 percent market share in 2018, have stopped reporting monthly sales numbers, opting to report on a quarterly basis.

Smaller rival Fiat Chrysler Automobiles NV reported a 2 percent rise in U.S. auto sales for January, helped by higher demand for its Ram pickup trucks, and said it expects strong sales in 2019.

"In spite of some frigid January weather, we remain bullish on 2019 given the continued underlying strength of the U.S. economy," Fiat's U.S. head of sales Reid Bigland said.

Fiat said it sold 136,082 vehicles last month, compared with 132,803 units for the same period a year earlier.

Ram sales surged 24 percent to 39,649 vehicles in January, compared with the same period a year earlier. 

You Might Like