REUTERS: Toyota Motor Corp on Thursday reported an 11per cent fall in U.S. new vehicle sales in the third quarter, weighed down by a two-month industry-wide production shutdown in the spring to halt the spread of COVID-19.
Consumer demand for high-profit sports utility vehicles and pickup trucks in the United States has recovered rapidly since hitting a pandemic-fueled bottom in April, pushing automakers to ramp up production and boost lean inventories at dealerships.However, rising COVID-19 cases in the United States have increased the uncertainty over a speedy economic recovery.
The Japanese automaker said it sold 558,449 vehicles in the quarter in the United States, compared with 627,194 a year earlier. Rival Fiat Chrysler Automobiles NV reported a 10per cent fall in U.S. sales to 507,351 vehicles in the third quarter.
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