Aug 2, 2011
Toyota Motor Sales USA Inc.(NYSE:TM) announced Tuesday that its July U.S. sales fell 22.7% as it continued to deal with parts shortages stemming from the March earthquake and tsunami in Japan.
Toyota sold 130,802 vehicles in July, compared to the 169,224 in the same month last year.
The Japanese automaker sold 27,016 of its Camry car, 22.9% down from 35,058 in July 2010.
Corolla sales dropped 35.7% to 17,577, while sales of the Prius hybrid, which is made only in Japan, tumbled 43.9% to 7,907.
Sales of the Sienna minivan rose 2.3 percent to 10,620.
Toyota Motor has a potential upside of 12.7% based on a current price of $81.96 and an average consensus analyst price target of $92.4.
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