Toyota's US sales fall 23per cent in August

Toyota Motor Corp on Tuesday reported its fifth straight month of declines in the United States in August as demand for cars remained sluggish even after factories and dealerships reopened from coronavirus-led lockdowns.

FILE PHOTO: Employees walk at the Toyota Motor Corp new plant in Apaseo El Grande in Mexico's central state of Guanajuato, Mexico February 6, 2020. REUTERS/Sergio MaldonadoREUTERS: Toyota Motor Corp on Tuesday reported its fifth straight month of declines in the United States in August as demand for cars remained sluggish even after factories and dealerships reopened from coronavirus-led lockdowns.

The Japanese automaker said its sales in August fell 22.7per cent to 191,841 units from the same month in 2019.U.S. auto sales have remained sluggish since hitting a bottom in April as major automakers scrambled to ramp up production and boost weak inventories at dealerships, especially in states where they remained open throughout the shutdowns.Toyota's sales decline in August was worse than July when volumes tumbled 19per cent, its slowest since March.

Smaller rival Hyundai Motor Co's U.S. sales too fell 8.4per cent in August as its fleet sales plunged 63per cent and represented 4per cent of total volume. The South Korean automaker said its sales in August fell to 58,361 units, compared with 63,737 units in the same month in 2019.

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US: Dow ends with best August since 1984, Nasdaq at record[NEW YORK] Wall Street closed out a banner August with a mixed session Monday, with tech shares propelling the Nasdaq to another record and a newly-tweaked Dow index retreating. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

US manufacturing activity at 19-month high in AugustU.S. manufacturing activity accelerated to a more than 1-1/2-year high in August amid a surge in new orders, but employment continued to lag, ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Nasdaq ends higher while S&P 500 posts biggest August gain since 1986NEW YORK (REUTERS) - While the S&P boasted its steepest August percentage gain in more than three decades it ended Monday (Aug 31) slightly lower and the Dow also lost ground as investors took a pause although the Nasdaq closed higher thanks to high-flying stocks including Apple Inc.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »

Nasdaq rallies while S&P 500 heads for biggest August since 1984The S&P 500 hovered near record highs on Monday as bets on a rebound in economic activity due to prolonged central bank support put the index on ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Wall Street mixed as S&P 500 heads for best August since 1984The S&P 500 hovered near record highs on Monday as bets on a rebound in economic activity due to prolonged central bank support put the index on ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Wall Street mixed as S&P 500 on track for best August in 36 yearsThe S&P 500 hovered near record highs on Monday as bets on a rebound in economic activity due to prolonged central bank support put the index on ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »