The carmaker’s disappointing results point to slowing demand and a “sharp deterioration in growth” that extends beyond Elon Musk’s company.
The auto giant lobbied hard against tougher pollution rules. This week, the E.P.A.’s new rules proved favorable to hybrid technology, an area that Toyota dominates.
Readers discuss a new Biden administration rule and Toyota’s strategy. Also: Anti-L.G.B.T.Q. oppression; church and state; death preparation; falling birthrates.
Toyota, the world’s largest automaker, has been criticized for selling few electric vehicles, but its decision to focus on hybrids is paying off financially.
It and other foreign automakers are trying to exploit upheaval caused by new technology to gain market share from their dominant rivals.
Automakers like Ford, Kia and Toyota are offering more hybrid options to appeal to buyers who aren’t ready for fully electric vehicles.
The company said it was recalling the vehicles in North America because of concerns that bumper cover parts could fall off and create hazards on the road.
The three U.S. automakers say they are already at a disadvantage to nonunion rivals while labor leaders hope that big gains in negotiations will inspire workers in Southern states to unionize.
Mr. Ford, the executive chairman of Ford Motor, said nonunion automakers would make gains against Michigan automakers because of strikes by the United Automobile Workers union.
The world’s largest carmaker dominates the sales of hybrid cars but has been slow to sell all-electric vehicles, alienating some customers and hurting sales.