Leading automotive company Toyota Motor Corp (NYSE:TM) reported May sales results that may have been hurt by ongoing Middle East tension, but there was good news for investors.
• Toyota Motor stock is under selling pressure. What’s pulling TM shares down?
Toyota Victim of High Gas Prices
Many Americans are struggling with higher gas prices, which has led to increased demand for electric vehicles and hybrids, which was evident in Toyota’s May sales data.
The automotive giant reported May sales of 834,279 units, down 7.2% year-over-year, marking a fourth straight month of year-over-year sales.
