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Toyota global sales climb in August, powered by US growth despite Trump's tariffs
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Toyota (TM) reported another bump-up in global sales for August, with the US consumer powering the gains.
Not surprisingly, the RAV4, the company’s top seller, and the ubiquitous Camry sedan led the sales gains.
Toyota did say the company’s promotions tied to Chinese subsidies, as well as strong sales of Toyota’s bZ3X electric vehicle, helped its performance.
Kia's sister brand, Hyundai, also said sales rose 12% to 88,523 vehicles, which the company said was its 11th straight month of sales gains and an August sales record.
Interestingly, automakers are seeing sales gains in the face of 25% sector tariffs for the auto industry and 15% tariffs on auto exports from Japan and South Korea.