Key facts
- Toyota's global vehicle sales decreased by 7.2% in May compared to the previous year.
- This marks the fourth consecutive month of declining global sales for the automaker.
- Significant sales drops were recorded in China (31.7%) and the Middle East (38.6%).
- Sales in the U.S. market edged down by 0.6%.
- Toyota's global production also fell by 5.5% year-on-year.
- Sales in Japan increased by 11.1%.
Toyota Motor announced that its global vehicle sales experienced a 7.2% year-on-year decrease in May, extending a trend of declines for the fourth consecutive month. The company cited challenging market conditions in China and the Middle East as primary factors contributing to the slump.
Globally, Toyota sold 834,279 vehicles in May. Overseas sales fell by 9.6%, while sales within Japan saw an 11.1% increase, bolstered by strong demand for models like the RAV4 and bZ4X. The company's top market, the U.S., experienced a slight dip of 0.6% in sales.
Regionally, sales in China plummeted by 31.7%, attributed partly to rising gasoline prices. The Middle East market also saw a significant decline of 38.6%. Global production also decreased by 5.5% compared to the previous year, with drops in the U.S. and Asia outweighing gains in Japan.
The sales figures encompass Toyota's luxury brand, Lexus.