Toyota Records Nine Consecutive Months Of Sales Growth In September, Thanks To Major Bump Up In US Figures

• In the U.S., Toyota’s top market, sales jumped 14.2% to 185,748 units in September.
• The company also increased its electrified vehicle sales last month, and recorded an overall 2.3% growth to 412,577 units.
• Production of Toyota and Lexus brand vehicles increased 11.1% globally to 918,146 units in September, marking four consecutive months of growth.
   

Toyota Motor (TM) said on Monday that its vehicle sales, including its Lexus brand, increased 3.1% to 879,314 units in September, marking nine consecutive months of year-on-year growth.

The Japanese automaker said that a 4.6% jump in sales outside Japan, in markets such as North America, compensated for the 5.2% drop in its home market.

In the U.S., Toyota’s top market, sales jumped 14.2% to 185,748 units. However, sales in China, including Hong Kong and Macau, slumped 1% to 158,913 units as buyers held back in anticipation of discounts at local motor shows held during the National Day holiday, among other factors.

Production Details

Production of Toyota and Lexus brand vehicles increased 11.1% globally to 918,146 units in September, marking four consecutive months of growth. While production within Japan increased 8.5% to 301,626 units, production outside of Japan increased 12.4%  to 616,520 units.

Production in the U.S. soared 28.5% to 123,649 units, while production across North America, including Canada and Mexico, rose 19.8%. This was aided by the recovery from last year’s production stoppage due to recalls and by the strong performance of hybrid vehicles, the company said.

The company also increased its electrified vehicle sales last month, and recorded an overall 2.3% growth to 412,577 units. Battery-electric vehicle sales increased 71% to 19,159 units, but hybrid-electric vehicles continue to dominate the company’s overall electrified sales.

How Did Stocktwits Users React?

NYSE-listed shares of Toyota traded 2% higher on Monday morning.

On Stocktwits, retail sentiment around the stock stayed within the ‘extremely bullish’ territory over the past 24 hours, while message volume stayed at ‘low’ levels.

TM stock is up by 8% this year and by about 19% over the past 12 months. 

Read also: Why Did NTLA Stock Tumble 43% Pre-Market Today?

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