Toyota Motor Corp. reported on Monday that its global sales in May fell by 7.2% year-on-year to 834,279 units, marking the fourth consecutive month of decline, reflecting sluggish demand in China, which has been affected by rising fuel prices amid the conflict in the Middle East, UNN writes citing Kyodo News.
Details
Exports from Japan to the Middle East in the reporting month fell by 65.9% to 7,323 vehicles, declining for the third consecutive month, likely due to logistics disruptions caused by the regional conflict.
Global production fell by 5.5% to 765,470 vehicles, showing the first decline in three months, according to data from the world's largest automaker by production volume.
Toyota's overseas sales fell by 9.6% to 715,898 units, with sales in China dropping by 31.7% to 102,299 vehicles due to the ongoing challenging market conditions, the company said.
Sales in the U.S. fell by 0.6% to 238,800 units, remaining virtually unchanged from the previous year, despite sustained high demand for hybrid vehicles. In the Middle East, sales fell by 38.6% to 29,568 vehicles.
However, sales in Japan rose by 11.1% to 118,381 units, with demand remaining high thanks to steady sales of new models, including the RAV4 SUV and the bZ4X electric vehicle. Sales in India also jumped by 15.3% to 30,227 vehicles, driven by tax reductions on automobiles.
Toyota's overseas production fell by 9.4% to 514,882 vehicles, marking the first decline year-on-year in three months. The production cuts in North America and Europe are linked to a reduction in the number of working days. In China, production fell by 23% to 98,536 vehicles.
Domestic production rose by 3.7% to 250,588 units, the first increase in seven months, supported by the launch of new models.
Meanwhile, global sales of Japan's eight largest automakers, including Toyota, fell by 2.6% year-on-year in May to 1,966,434 vehicles.
Honda Motor Co. sales fell by 4.9% to 283,623 units due to weakening demand in China, while struggling Nissan Motor Co. recorded a sales decline of 10.3% to 229,870 vehicles.
However, Suzuki Motor Corp. sales rose by 23.2% to 307,918 units, driven by strong demand in India due to tax cuts and growth in emerging markets.
Global production of the eight automakers totaled 1,903,550 vehicles, down 3.7% from last year, while domestic production fell by 0.9% to 598,817 vehicles.
Toyota has launched the new sixth-generation RAV4 in the European market08.04.26, 19:47