Toyota car sales fall for seventh straight month on China slump

Toyota's global car sales declined for the seventh consecutive month in August, following a sharp drop in China, the world's largest automotive market. The Japanese automaker attributed the decline to weak demand for gasoline and hybrid vehicles in China. In August, Toyota and its Lexus brand sales dropped by 23% in China, leading to a 7.5% decline in global group deliveries compared to the previous year.

Despite this, Toyota and Lexus recorded a 2.6% sales increase in Europe and a 9.1% rise in Japan, driven by strong demand for new models, particularly hybrids. However, sales fell by 4.4% in the United States and more than a third in the Middle East, where oil prices surged due to Middle East conflicts. Earlier this year, Toyota predicted that hybrid sales would surpass 5 million units in 2026, providing the company with a competitive edge in the US market, where Chinese brands face significant tariff barriers.