Toyota Motor North American Sales in March and Q1 Drop 9%

Toyota Motor North America (NYSE:TM) today reported March 2023 U.S. sales of 176,456 vehicles, down 9.1% on a volume and daily selling rate (DSR) basis versus March 2022. Sales of electrified vehicles for the month represented 27.5% of total sales volume. During Q1 2023, TMNA reported sales of 469,558 vehicles, down -8.8. Sales of electrified vehicles for the first quarter totaled 118,836, representing 25.3 percent of total sales volume.

Toyota division posted March sales of 150,099 vehicles, down 12% on a volume and DSR basis. For the quarter, Toyota division reported sales of 401,306 vehicles, down 10.9%. Lexus division posted March sales of 26,357 vehicles, up 12.1 percent on a volume and DSR basis. For the quarter, Lexus division reported sales of 68,252 vehicles, up 6%.

“With 22 electrified vehicle options between both the Toyota and Lexus brands, the most among any automaker, we’re giving customers a choice that fits their lifestyle, pocketbook and needs,” said Jack Hollis, executive vice president, sales, TMNA. “We continue to make improvements to our vehicle inventory to satisfy customer demand, while doing all we can to exceed expectations as we introduce more electrified vehicles throughout the balance of 2023,” Hollis said. He did not address the disconnect between a growing overall market and TMNA’s decline.

TMNA Stated Highlights

• March sales of electrified vehicles represented 27.5% of total sales volume.
• First quarter sales of electrified vehicles represented 25.3% of total sales volume.
• 2023 Toyota Prius, 2023 Toyota Crown HEV, and Lexus RZ 450e BEV went on sale.
• 22 electrified Toyota and Lexus vehicle options available at dealerships.