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Toyota, Honda report weaker than projected US sales

Sales of Toyota dip 8% due to shortage in supply of Corolla cars
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Automakers Toyota and Honda continue to face issues in the U.S. as they reported weaker-than-expected sales for October.

The sales of Toyota fell 8% on account of a shortage in supply of its Corolla cars, while Honda’s numbers fell 0.5% from a year earlier, BBC News reported.

The sales of both the Japan-based automobile companies have plunged in the U.S. after the tsunami and the quake hurt their production, the media reports said. Meanwhile, the sales of Nissan jumped 18% during the period. 

Head of Toyota brand sales for the U.S, Bob Carter said, “I know I predicted at the start of this month that October sales would exceed year-ago levels. That was an aggressive goal.”

The car sales in the U.S surged by 7.5% during the month, with Volkswagen and Chrysler reporting the biggest gains with 40% and 27% respectively.

There are still concerns about the long-term prospects of the automobile sector, not least, due to fears of a meltdown in the US economy and the debt crisis in Europe.

Al Castingnetti, Nissan’s US sales chief, said that despite concerns of a global economic slowdown, car sales in the U.S. may hit their highest level in the last three months of the year.

Toyota is a multinational automaker headquartered in Toyota, Aichi, Japan.  On the other hand, Honda is a Japanese public multinational corporation known as a manufacturer of motorcycles and automobiles.

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