We have been negative on Toyota's stock since its price peak when the media was
fawning over the company. We have also talked about a peak in the aspirational
purchases of the American consumer and the expected impact on luxury brands. We
are seeing this in Toyota's reported sales of its luxury brand, its high-priced
pickups and sport utility vehicles.
TOYOTA RETAIL SALES
September, 2008
--- CURRENT MONTH --- -- CALENDAR YEAR TO DATE --
DSR % DSR %
2008 2007 CHG 2008 2007 CHG
---- ---- --- ---- ---- ---
YARIS 5,721 5,956 0.1 88,495 68,465 29.3
COROLLA 21,316 29,550 -24.9 279,685 291,981 -4.2
CAMRY 29,486 40,438 -24.0 355,562 365,140 -2.6
AVALON 3,404 6,066 -41.5 34,309 54,560 -37.1
PRIUS 10,873 12,494 -9.3 130,561 137,114 -4.8
SCION xA 0 80 -100.0 39 9,474 -99.6
SCION xB 3,038 4,842 -34.6 38,671 33,832 14.3
SCION tC 2,679 5,694 -51.0 35,680 52,063 -31.5
SCION xD 2,395 2,623 -4.9 23,369 5,287 342.0
TOTAL TOYOTA DIV.
PASS. CAR 78,912 107,743 -23.7 986,372 1,017,920 -3.1
----------------- ------ ------- ----- ------- --------- ----
ES 4,042 6,491 -35.1 50,642 62,444 -18.9
LS 1,238 2,918 -55.8 16,030 26,350 -39.2
SC 129 297 -54.8 1,689 2,995 -43.6
GS 977 1,668 -39.0 13,019 17,090 -23.8
IS 3,044 3,757 -15.6 40,372 41,706 -3.2
TOTAL LEXUS PASS.
CAR 9,430 15,131 -35.1 121,752 150,585 -19.1
----------------- ----- ------ ----- ------- ------- -----
SIENNA 9,647 9,865 1.9 94,887 105,912 -10.4
RAV4 10,305 14,412 -25.5 106,738 131,946 -19.1
FJ CRUISER 1,571 4,544 -64.0 21,696 43,228 -49.8
4RUNNER 2,963 7,802 -60.4 37,306 66,984 -44.3
HIGHLANDER 5,729 8,173 -27.0 81,951 91,294 -10.2
LAND CRUISER 186 163 18.9 3,203 1,752 82.8
SEQUOIA 2,030 1,660 27.4 24,592 17,959 36.9
TOTAL SUV 22,784 36,754 -35.4 275,486 353,163 -22.0
--------- ------ ------ ----- ------- ------- -----
4X2 TACOMA 4,904 8,380 -39.0 65,771 80,499 -18.3
4X4 TACOMA 4,272 5,616 -20.8 51,542 55,016 -6.3
TOTAL TACOMA 9,176 13,996 -31.7 117,313 135,515 -13.4
TUNDRA 7,696 19,571 -59.0 115,026 144,480 -20.4
TOTAL PICKUP 16,872 33,567 -47.6 232,339 279,995 -17.0
TOTAL TOYOTA
DIV. LT TRUCK 49,303 80,186 -36.0 602,712 739,070 -18.4
LX 647 177 280.8 6,416 2,149 198.6
GX 1,329 1,964 -29.5 12,832 16,394 -21.7
RX 4,639 7,841 -38.4 63,219 75,527 -16.3
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