Toyota's global sales and production both decreased in July. Among them, sales in the Chinese market plummeted by more than 20%, becoming one of the major factors contributing to the decline.
According to a report by Reuters on August 28, Toyota announced that global sales in July decreased by 4.8% to 856,100 units; global production decreased by 2.1%. Weak performance in markets such as China, the United States, and the Middle East offset growth in Japan's domestic market.
Toyota's data includes its luxury car brand, Lexus.
Among them, Toyota’s sales in the Chinese market dropped by 24.3% year-on-year, continuing to decline for the sixth month in a row. Toyota attributed this performance to the increase in gasoline prices, saying that this has weakened consumers' demand for hybrid and conventional fuel vehicles. Meanwhile, Toyota's production in China also decreased by 32.7% year-on-year.
Other major markets are also under pressure. The United States, Toyota’s largest market, saw sales drop by 0.8% in July, with production decreasing by 4%. Sales in the Middle East plummeted by 44.5%. In contrast, sales in the Japanese market increased by 11%, and production increased by 12.4%.
It is worth noting that Toyota’s car exports from Japan continue to grow. The export volume in July increased by 10.2% year-on-year, reaching over 196,000 units. This represents an increase for the third consecutive month and marks the highest level since October last year.
