Toyota sales, production fall on sharp declines in China, Middle East
TOKYO: Toyota Motor said on Friday its global vehicle sales and production fell in July, weighed by declines in China, the United States and the Middle East, which offset a stronger performance in Japan. Global sales fell 4.8% from a year earlier to 856,125 vehicles, while production dropped 2.1%. A 24.3% plunge in China dragged sales down, marking a sixth successive month of decline, as higher…
Toyota Motor reported a decline in global vehicle sales and production in July, with both figures contracting compared to the same period the previous year. The drop was felt most acutely in China, where a 24.3% plunge in sales marked a sixth consecutive monthly decline. This harsh sales environment in the world's largest auto market was further compounded by higher petrol prices, which dampened demand for hybrid and traditional combustion engine vehicles.
In the United States, Toyota's sales fell 0.8%, while in the Middle East, they plummeted 44.5%, offsetting an 11.0% rise in Japan. Despite these declines, Toyota managed a 12.4% rise in production in Japan, the highest level since October. However, the overall production numbers still dipped 2.1% globally, primarily due to the sharp declines in China and the United States.
Exports from Japan rose by 10.2% year-on-year to just over 196,000 vehicles, a steady increase for the third month in a row, marking the highest level since October. The figures encompass Toyota's luxury Lexus brand.
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