Japan Automakers Log Double-Digit Sales Drops in U.S. in April-June

Economy

New York, July 1 (Jiji Press)--Three major Japanese automakers said Friday that their new vehicle sales in the United States in April-June logged double-digit year-on-year declines for the second straight quarter.

The continued plunges came as prolonged supply constraints, such as semiconductor shortages traced to the COVID-19 pandemic, hampered production activities at the three firms--Toyota Motor Corp. <7203>, Honda Motor Co. <7267> and Nissan Motor Co. <7201>.

The results also appeared to be a reaction to strong sales a year earlier when sales were sharply recovering from the pandemic's impact.

In the second quarter of 2022, Toyota's U.S. sales dropped 22.9 pct to 531,105 units. Although a sales drop for its mainstay RAV4 SUV was limited to 6.8 pct, Toyota's overall sales fell below those of U.S. auto giant General Motors Co. for the first time in five quarters. GM's sales came to 582,401 units, down 15.4 pct.

Honda's sales plunged 50.7 pct to 239,789 units, with its popular CR-V SUV suffering a 51.4 pct tumble.

[Copyright The Jiji Press, Ltd.]

Jiji Press