Toyota Quarterly Sales Slump: Report

Toyota Motor ( TM) 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.

More from Stocks

Week Ahead: Trade Fears and Stress Tests Signal More Volatility To Come

Week Ahead: Trade Fears and Stress Tests Signal More Volatility To Come

3 Great Stock Market Sectors Millennials Should Invest In

3 Great Stock Market Sectors Millennials Should Invest In

Why Millennials Are Ditching Stocks for ETFs

Why Millennials Are Ditching Stocks for ETFs

Trump's 'Space Force' Could Launch a $1 Trillion Industry, Morgan Stanley Says

Trump's 'Space Force' Could Launch a $1 Trillion Industry, Morgan Stanley Says

Abiomed Stock Should Rise Some 12% From Here, Piper Jaffray Analyst Says

Abiomed Stock Should Rise Some 12% From Here, Piper Jaffray Analyst Says