TMNA Reports Double-Digit Q3 Sales Gains

Toyota Motor North America reported double-digital gains in U.S. sales in the third quarter, according to the automaker’s most recent earnings report.

It had U.S. sales of 590,296 vehicles, up 12.2% on volume and10.8% on daily selling rate. The automaker reported a total of 184,666 electrified vehicle sales, comprising 31% of total year-to-date sales.

“With introducing several electrified vehicles including the all-new Toyota Grand Highlander hybrid, Toyota Corolla Cross hybrid, Toyota Prius, and the Lexus RX plug-in hybrid, customers now have 26 Toyota and Lexus electrified vehicle options to choose from, the most among any automaker,” said Jack Hollis, executive vice president, sales, in a press release on the results. “We expect continued strong sales momentum as we close out 2023 as dealer stock improves and key new products like the fourth generation Toyota Tacoma and Lexus TX and TX hybrid hit showroom floors.”

TMNA reported September gains contributed to the positive quarterly results, with U.S. sales of 203,904 vehicles, up 14% on volume and 9.5% on DSR year-over-year. Electrified-vehicle sales reached 64,298, accounting for 31.5% of total sales.

Toyota division's quarterly sales totaled 515,400, up 12.4% on volume and 11% on DSR.

The Lexus division told the same quarterly story, according to the earnings report. In the third quarter, its sales were at 74,896, up 11% by volume and 9.5% by DSR.

Originally posted on Auto Dealer Today