Toyota Motor North America's sales fell 9.1 in March to 176,456 as declining sales at the Toyota brand dragged down a positive month at Lexus. For the first quarter, the automaker's sales fell 8.8 percent to 469,558.
Brands: Toyota, down 12%; Lexus, up 12%; in first quarter, Toyota, down 11%; Lexus, up 6%
Notable nameplates: Toyota Camry, down 4.6%; Corolla, down 20%; RAV4, down 16%; Tacoma, down 14%; Lexus RX, down 4.2%; NX, up 43%; ES, down 1.4%
Q1 U.S. light-vehicle market share: 13.1% vs. 15.5% in Q1 2022
Incentives: $710 per vehicle, down 31% from a year earlier, TrueCar says
Average transaction price: $42,256, up 5.2% from a year earlier, according to TrueCar
Fleet mix: 10%, according to TrueCar
Quote: "This first quarter, we knew it would be slower for us. The second quarter will still be a little slow — not quite as slow as the first quarter — but the first half will be behind last year and the second half will be ahead of last year," Jack Hollis, head of sales for Toyota Motor North America, said March 27.
Did you know? The Toyota brand and Kia had the lowest incentives as a percentage of average transaction price in March at just 1.7 percent, the only brands below 2 percent, according to TrueCar.
