Penske Automotive – the United States’ second largest dealership group – says it expects the group’s Toyota-brand sales to fall by 12 percent this month. Toyota’s overall U.S. sales fell by 16 percent in January.
While it remains to be seen if Penske’s Toyota sales results will hold true for the entire United States market, the Japanese automaker is expected to post another month of declining sales. Toyota’s sales tumbled by 16 percent in January as the company extended its unintended acceleration recall to cover more than 8 million vehicles worldwide.
Although Toyota’s recalls have negatively impacted new Toyota sales, Penske says it is more than making up for the difference in added service work. Penske makes about $70 for each sticky accelerator fix and $220 for every repair involving an accelerator pedal that can become entrapped in the vehicle’s floor mat.
Toyota’s sales woes could continue for the foreseeable future. The Japanese automaker is facing a House safety hearing this week that will investigate the company’s safety record.
References
1. ‘Penske’s Toyota sales…’ view
