US vehicle sales recovery continues as Toyota decline slows

The decline of Toyota vehicle sales in the US has started to slow.
The decline of Toyota vehicle sales in the US has started to slow.
Image: Smith Collection/Gado/Getty Images

US new vehicle sales in July continued to show signs of recovery from the coronavirus pandemic, as Toyota Motor Corp on Monday posted its lowest sales decline since the Covid-19 outbreak slammed the sector in mid-March.

The Japanese car maker said that its sales in July fell 19% versus the same month in 2019, to 169,484 units. That was Toyota's best month since before the pandemic shuttered North American production for two months and led to closed showrooms across numerous US states.

The rebound in US car sales since hitting a bottom in April has seen major car makers scramble to ramp up production and boost weak inventories at dealerships, especially in states where they remained open throughout the shutdowns.

The rebound in sales, however, could be threatened by spiking cases in southern and southwestern US states, which have increased uncertainty over the US economic recovery.

Hyundai Motor Co reported a modest year-on-year 0.6% gain in US sales for July, selling 57,677 units.

"Achieving an overall sales increase despite the ongoing pandemic is a tremendous accomplishment and speaks to the depth and quality of our product lineup and resiliency of our dealers," said Hyundai's North American sales chief Randy Parker in a statement.

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