FILE PHOTO: Cars for sale are seen at City Toyota in Daly City, California, U.S., October 3, 2017. REUTERS/Stephen Lam/File Photo
(Reuters) – Toyota Motor Corp reported a 3.5 percent fall in U.S. sales in March, hurt by declining demand for its Corolla sedans and Camry vehicles.
The Japanese carmaker said it sold 214,947 vehicles, compared with 222,787 in March, a year earlier.
“While some of our competitors are abandoning sedans, we remain optimistic about the future of the segment,” Toyota said in a statement.
Smaller rival Fiat Chrysler Automobiles NV on Tuesday reported a 7.3 percent fall in U.S. sales in March, hit by a fall in sales across all of its major brands except RAM trucks.
FCA, the No. 4 automaker in the United States said it sold 200,307 vehicles in March, compared with 216,063, a year earlier.
Industry consultants J.D. Power and LMC Automotive have forecast U.S. auto sales to drop about 2.1 percent in March from a year earlier, partly due to bad weather, mixed economic data and lower tax refunds.
Reporting by Sanjana Shivdas in Bengaluru; Editing by Shounak Dasgupta and Shailesh Kuber