Toyota Records Fourth Straight Month Of Sales Jump In April: But Retail’s Not Yet Convinced

The company reported a 25% jump in sales of electrified vehicles last month, owing to a 24% increase in sales of hybrid electric vehicles in particular, which touched 378,976 units.

Toyota Motor Corp. (TM) said on Thursday that its worldwide sales and production rose for the fourth consecutive month in April, sending the NYSE-listed shares of the Japanese automaker over 2% higher in pre-market.

The company’s global sales jumped 10% to 876,864 units on the back of a near 12% jump in sales within Japan and a near 10% increase in sales outside the home country. This includes sales of its Toyota and Lexus brand vehicles.

While sales rose 10% in the U.S. owing to a rush in demand before Trump tariffs took effect, sales in China rose 21% on the back of sales promotion measures undertaken by dealerships. However, the market in China remains challenging, with a shift to new energy vehicles and intensifying price competition, Toyota noted.

In Japan, the launch of new vehicle models aided the sales growth.

Vehicle production, meanwhile, rose 8% in April after manufacturing within Japan rose 7% and production outside the home country rose over 8%. While production in Japan was aided by the launch of new vehicles, production outside the country was supported by strong demand, the company said.

Toyota had a significant 25% jump in sales of electrified vehicles last month, owing to a 24% increase in sales of hybrid electric vehicles in particular, which touched 378,976 units, accounting for about 43% of the company’s overall sales in the month.

On Stocktwits, retail investor sentiment about Toyota improved from ‘extremely bearish’ to ‘bearish’ territory while message volume rose from ‘low’ to ‘normal’ levels over the past 24 hours.

TM stock is down approximately 5% this year and nearly 15% over the past 12 months.

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