Toyota Motor Sales USA Inc., a division of Toyota Motor Corp. (TM), Wednesday said its US vehicle sales in April declined 1 percent, as sales of Toyota cars dropped while Lexus division sales grew.
Toyota said its US April sales dropped 1.1 percent to 176,160 units from 178,044 last year. The month had 25 selling days against 24 days last year. April sales dropped 5 percent on a daily selling rate basis.
At its namesake Toyota division, sales declined 1.5 percent to 158,069 units from 160,493 units, while sales at Lexus segment climbed 3.1 percent to 18,091 units from 17,551 units last year.
Toyota's car sales slowed due mainly to lower demand from consumers for Toyota Prius, Corolla and Camry, but partly offset by strong demand for new model Avalon. Car sales at Toyota division dropped 9.5 percent to 89,956 units, as Prius sales plunged 21 percent, Corolla decreased 2.1 percent and Camry slipped 13.9 percent. Meanwhile, Avalon posted a strong growth of 119.4 percent.
Lexus car division sales rose 6.3 percent to 10,032 units, as ES and LS sedans grew 70.7 percent and 59.8 percent, respectively.
"From an industry standpoint, continued retail sales growth indicates the underlying strength of the market, which is a great sign for the months ahead, especially with new products, low interest rates and plenty of pent up demand," said Bill Fay, group vice president and general manager of Toyota Division.
Truck sales at Toyota division rose 11.6 percent to 68,113 units, with the help of strong sales of pickup trucks Tacoma and Tundra, and crossover RAV4.
Lexus truck sales inched down 0.6 percent to 8,059 units, as sales of crossover SUV Lexus GX and LX declined.
TM is currently trading at $114.30, down $2.00 or 1.72%, on the NYSE.
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