Toyota’s top U.S. executive says car sales nationwide have nearly bottomed out and his company will keep making them despite a dramatic shift to trucks and SUVs. Toyota’s U.S. car sales are down nearly 12 percent through October. DETROIT — Toyota’s top U.S. executive says car sales nationwide have nearly bottomed out and his company will keep making them despite a dramatic shift to trucks and SUVs. U.S. CEO Jim Lentz told the Detroit Economic Club on Wednesday that car sales fell below 30 percent of sales last month, and he thinks that’s close to the bottom. While Fiat Chrysler FCAU, -1.21 %, Ford F, +0.24% and General Motors GM, -0.03% are canceling many car models, Lentz doesn’t see that happening with Toyota TM, -0.56% 7203, -0.60 %. Consumers are still buying more than 4 million compact, midsize and near-luxury cars each year, he said. “There’s no way I’m going to walk away from that,” Lentz said. “We are always […]
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