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Toyota, Honda U.S. sales fall in November

Reuters 

(Reuters) - Sales of new and in the both fell in November, the Japanese carmakers said on Monday, pointing to an overall dip in U.S. industry numbers last month in the face of rising and interest rates.

Motor Corp sales, which rose 1.4 percent in October, fell about 0.6 percent to 190,423 units last month, due to decreased demand for its and sedans, the company said.

Motor Co Ltd said its sales fell 9.5 percent to 120,534 vehicles, more than doubling the pace of decline as it was hurt by lower volumes on passenger like its

Overall U.S. dipped 2 percent last year from a record high of 17.55 million in 2016 and are expected to decline further in 2018. However, a fall in November would be the first since 2009 in a month when dealers traditionally offer deals to clear stock ahead of the new year.

Industry watchers have said that interest in replacing older is finally waning after nearly a decade of robust new while rising interest rates and trade tariffs have pushed up the costs of buying.

There was progress in talks with this weekend, but has still threatened to impose a broad 25 percent tax on cars imported into the United States, potentially inflating prices further.

To make up for slowing sales, automakers have cut jobs and curtailed production of traditional passenger cars, while gradually moving to larger SUVs and trucks, which tend to be more profitable.

(Reporting by in Bengaluru; Editing by Saumyadeb Chakrabarty)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, December 03 2018. 20:41 IST
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