For Toyota, September was its third worst sales decline since at least 1980.
“The best thing about September is that it’s over,” said Don Esmond, senior vice president of automotive operations for Toyota Motor Sales USA.
On a daily selling rate basis, Toyota’s sales dropped 29.5% in September. The only months worse than that were in July 1987 and January 1987 when Toyota’s sales dropped 32% and 31% respectively, said Bob Carter, group vice president and general manager of Toyota’s U.S. sales arm.
Toyota said sales tanked early in September as the housing market crisis swept through other sectors of the economy and weather-related issues disrupted sales in the gulf states. Later in the month, Carter said the sales decline was directly related to the financial meltdown on Wall Street, which shook consumer confidence.
