Toyota sales, production fall on sharp declines in China, Middle East

Toyota Motor reported a decline in both global vehicle sales and production in July, as a sharp drop in China and the Middle East offset a stronger performance in Japan. Overall sales fell 4.8% from a year earlier to 856,125 vehicles, while production declined 2.1%. The steepest decrease was observed in China, where sales plunged 24.3%, marking the sixth consecutive month of decline.

This was primarily due to higher petrol prices negatively impacting demand for hybrid and traditional combustion engine vehicles. Sales in the United States, Toyota's largest market, fell by 0.8%, while those in the Middle East dropped significantly by 44.5%. Despite an 11.0% rise in Japan, production also decreased, with a 32.7% drop in China and a 4.0% decrease in the U.S. However, exports from Japan increased by 10.2% to just over 196,000 vehicles, marking the highest level since October and representing the third consecutive monthly increase. Toyota's figures encompass its luxury Lexus brand.