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Toyota reports 20% jump in first-quarter US auto sales

Stock Focus Report April 2, 2024
Toyota trucks are shown on a car carrier for delivery

Toyota trucks are shown on a car carrier for delivery after arriving in the United States in National City, California

(Reuters) – Toyota Motor North America (TMNA) reported an about 20% rise in first-quarter U.S. auto sales on Tuesday, helped by demand for its affordable sedans, crossovers SUVs and pickup trucks.

TMNA, a unit of Japan’s Toyota Motor Corp, sold 565,098 vehicles compared with 469,558 units a year earlier.

The automaker has also been modernizing long-running nameplates such as its Land Cruiser, 4Runner, Tundra and Prius models.

Sales of RAV4 crossover surged 47.4% to 124,822 units from a year earlier, extending its run as TMNA’s largest selling model.

Sales of electrified vehicles, which includes hybrids, EVs and hyrdogen fuel cell vehicles, rose about 74% to 206,850 units.

(Reporting by Nathan Gomes in Bengaluru; Editing by Sriraj Kalluvila)

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