TOKYO – Toyota Motor Corp. said Monday its global sales in the July-September quarter fell for the first time in seven years due to faltering demand in the U.S.
Japan's top automaker sold 2.24 million vehicles worldwide during the quarter, down 4 percent from the same period last year. It marked the first year-on-year decline in the July-September period since 2001, the company said.
Toyota had enjoyed strong U.S. sales earlier this year on robust demand for fuel-efficient vehicles, but September sales there dropped 32 percent due to sluggish consumer spending.
Toyota has been vying with General Motors Corp. to be the world's biggest automaker by global sales. Last year, Toyota's group sales — including those from minicar maker Daihatsu Motor Co. and truck maker Hino Motors Ltd. — rose to 9.366 million vehicles, just shy of GM's 9.37 million.
Shares in Toyota shed 0.9 percent to close the morning session at 3,170 yen Monday.