Toyota Declines After U.S. Sales Fall for Second Straight Month
Toyota Motor Corp. fell in Tokyo trading after the world’s largest automaker reported a second monthly decline in U.S. sales.
Toyota dropped 30 yen, or 0.9 percent, to 3,280 yen as of 9:53 a.m. on the Tokyo Stock Exchange. Honda Motor Co., Japan’s second-largest carmaker, rose 1.8 percent to 3,135 yen, and Nissan Motor Co., the third-biggest, rose 2.3 percent to 818 yen.
Toyota yesterday said November U.S. sales fell 3.3 percent. South Korea’s Hyundai Motor Co. posted a 45 percent surge, Nissan rose 27 percent and Honda reported a 21 percent increase.
“Sales of the Camry, Toyota’s biggest-volume model, are doing badly as Hyundai attacks aggressively,” said Koji Endo, an auto analyst at Advanced Research Japan in Tokyo. “The impact from recalls still remains as well.”
Toyota’s U.S. sales through November this year have gained 0.2 percent, the smallest increase among the top 11 carmakers, after the Japanese company recalled more than 8 million cars globally for problems tied to unintended acceleration.
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