Toyota Motor Corp ( TM ) shares are trading lower on Tuesday after the company reported U.S. sales data.

The company reported March 2024 U.S. sales of 214,894 vehicles, up 21.8% on a volume and daily selling rate (DSR) year over year.

Sales of electrified vehicles for the month totaled 78,157, representing 36.4% of total sales volume.

“Thanks to our diverse portfolio of 27 electrified vehicle options between the Toyota ( TM ) and Lexus brands, customer demand for our products continued to grow in March and in the first quarter,” said Jack Hollis, executive vice president of sales, Toyota Motor North America.

Toyota ( TM ) division posted March sales of 184,123 vehicles, up 22.7% on a volume and DSR basis.

Lexus division posted March sales of 30,771 vehicles, up 16.7% on a volume and DSR basis.

“Our teams are preparing to launch more than 20 new, refreshed or special edition vehicles later this year including the all-new 2024 Tacoma with available hybrid powertrain, plus the all-new 2024 Land Cruiser and 2025 Camry, both exclusively with hybrid powertrains, offering even more electrified options that fits customers’ lifestyles and needs,” Hollis said.

TM Price Action: Toyota ( TM ) shares are trading lower by 0.89% to $239.99 on the last check Tuesday. 

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