Toyota Quarterly Sales Slump: Report
The automaker said quarterly sales fell for the first time in seven years, according to a report.
Toyota Motor
(TM) - Get Report
said quarterly sales fell for the first time in seven years, according to a published report.
Toyota sold about 2.236 million vehicles worldwide in the quarter ended Sept. 30, down 4.3% from a year earlier,
Bloomberg
reports, citing an e-mail it received from the automaker.
Toyota's U.S. sales slumped 18% to 553,217 vehicles in the third quarter. Toyota has cut output of the Tundra pickup and Sequoia SUVs in the U.S. The carmaker also offered zero-interest-rate loans on 11 models including the Camry and Corolla models, according to
Bloomberg
.
In addition, sales declines in Europe and Japan overwhelmed growth in China,
Bloomberg
reports.
This article was written by a staff member of TheStreet.com.
