Toyo Reports Record 1Q Sales

Toyo Tire Corp. posted record first quarter sales, driven in large part by its North American light truck tire business.

The company’s total net sales increased by 26.9% during the first quarter of 2023 versus the same period in 2022.

Sales in North America increased by 30%, the biggest gain of any Toyo geographic region.

However, Toyo’s operating income fell by nearly 10% during 1Q 2023.