Stock Groups

Toyota first-quarter U.S. auto sales drop nearly 15% -Breaking

by Mike Robinson

[ad_1]

© Reuters. FILEPHOTO: This is the Toyota logo at the 43rd Bangkok International Motor Show. It was taken in Bangkok (Thailand), March 22nd, 2022. REUTERS/Athit Perawongmetha

(Reuters) –Toyota Motor Corp. reported a nearly 15% decline in U.S. quarterly auto sales Friday. This was due to a shortage of semiconductors and parts triggered by COVID-19.

The global shortage of chips is still affecting the auto industry. However, high prices for cars have partly offset this effect.

Although supply bottlenecks have been decreasing in recent months due to Russia’s aggression against Ukraine and new Chinese lockdowns following an increase in COVID-19 infection, the process was stopped.

It will take some time for inventories to be built because many of the vehicles coming in are already being sold. Morningstar analyst David Whiston indicated that soft numbers are expected to continue for at least the next few months.

Japanese automaker Nissan reported that its first quarter sales were down 14.7%, at 514,592 vehicles.

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses as a result.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this website’s data including quotes, charts, or buy/sell signal information. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.

[ad_2]