Shock! Toyota Registers Sales Decline
Toyota is not so invincible after all. The auto giant registered a 4.3% drop in U.S. auto sales for the month of April 2007, the first time in two years that Toyota saw its sales decline when compared to the same month of the previous year.
Lest anyone think that this is the beginning of trouble for Toyota, the entire industry was clobbered in April thanks to bad weather, a decline in the housing market, and surging gas prices. Only Chrysler managed to push through a gain, nearly 2%, while Ford and Nissan registered double digit declines. Indeed, the Nissan brand registered the biggest loss at 18%.
Analysts are expecting a strong recovery for Toyota for this month, but overall sales may remain flat. Higher gas prices will likely continue to take their toll all throughout the summer with a price retreat not expected to kick in until after Labor Day.
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