Toyota U.S. Sales In January Falls 7.2% - Update

(RTTNews) - Japanese automaker maker Toyota Motor Corp. (TM), said Friday its U.S. sales in January slid 7.2 percent as inclement weather led consumers to defer purchases and consequently hurt demand for mainstay brands such as Prius and Camry while its truck division saw some momentum.

Harsh winter conditions across several regions have been a drag on the auto industry, with General Motors Co. (GM) and Ford Motor Co. (F) also posting lower U.S. vehicle sales for January. However, Chrysler Group LLC portrayed a different scenario, with an 8 percent rise in U.S. vehicles sales for the month.

Toyota's U.S. sales in January slid 7.2 percent to 146,365 vehicles from 157,725 vehicles last year. The month had 25 selling days, same as that of last year.

"January was off to a solid start, but weather conditions slowed industry sales in key markets late in the month," said Bill Fay, Toyota division group vice president and general manager.

At its eponymous Toyota division, total sales slackened 9 percent from last year to 128,728 units, while at its smaller Lexus division, total sales climbed 8.8 percent to 17,637 units.

Car sales at Toyota division dropped 19.7 percent to 67,587 units, with Prius falling 22.6 percent and Camry plunging about 27 percent. Corolla was down 4.5 percent. Among smaller volume brands, Yaris tumbled 65.3 percent and Avalon slipped 11.5 percent.

At Lexus division, car sales climbed about 5 percent to 10,231 units, on robust demand for IS sedans.

But momentum was seen at Toyota truck division, where sales gained 6.5 percent to 61,141 units, helped by demand for RAV4 and Highlander. Lexus division truck sales rose 14.7 percent to 7,406 units.

Among U.S. automakers, GM, the largest among that tribe, said its January U.S. sales fell 11.9 percent to 171,486 vehicles from last year, as all four its brands slumped. Chevrolet sales dropped 13.3 percent, GMC sales fell 10 percent, Cadillac sales slipped 13.2 percent and Buick sales declined 1.4 percent, GM said.

As for Ford, its sales for January slid about 7 percent from last year to 154,644 vehicles, with car sales sliding 13.4 percent, truck sales faltering 2.2 percent and utility vehicle sales dropping 5.8 percent.

Meanwhile, Chrysler, a unit of Italian automaker Fiat S.p.A. (FIATY), said its U.S. vehicle sales for January increased 8 percent year-over-year to 127,183 units. Car sales fell 21 percent, but was mostly offset by a 25 percent jump in truck sales.

Nonetheless, the auto industry takes solace from a vibrant 2013, with the best performance in about six years. The sector has surpassed the growth in the US economy as better employment levels, low interest rates and a housing boom acted as props. That contrasts with a struggling Europe and the region has been a tough spot for automakers.

Toyota shares are trading at $112.69, down $2.07 or 1.80%, on a volume of 365 thousand shares on the NYSE.