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

Toyota Motor reported a sharp decline in global vehicle sales and production for July, as a 24.3% plunge in China pulled down overall numbers for the month. The Japanese automaker attributed the fall to higher petrol prices, which negatively impacted demand for hybrid and traditional combustion engine vehicles in China, marking a sixth consecutive month of decline in Chinese sales.

Toyota's global sales fell by 4.8% compared to the same month last year, reaching 856,125 vehicles. Production also dropped by 2.1%. Sales in the United States, Toyota's largest market, declined by 0.8%, while sales in the Middle East dropped significantly by 44.5%. These declines offset an 11.0% rise in sales in Japan.

Despite a 12.4% increase in production in Japan, Toyota's production overall decreased by 2.1%. Exports from Japan rose by 10.2% from the previous year, reaching just over 196,000 vehicles, marking the highest level since October and marking the third consecutive month of increase. The figures include Toyota's luxury Lexus brand.