INTERNATIONAL – Toyota Motor on Friday reported a 6.6 percent fall in US vehicle sales for January, hurt by lower demand for its Camry and Prius cars.
The third-largest carmaker in the US by sales said it sold 156 021 vehicles in January, down from 167 056 vehicles a year earlier. Camry sales fell 3.4 percent, while Prius sales slumped 57 percent, the company said.
Auto industry consultants JD Power and LMC Automotive forecast January auto sales to decline about 1 percent from the same month in 2018, partly due to uncertainty over the recent government shutdown.
The auto consultants also forecast total light vehicle sales this year to fall 1.9 percent to about 17 million units, compared with 2018.
However, major automakers are bullish about 2019 sales even as economists warned that rising interest rates may discourage consumers from buying cars this year.