Key facts
- Toyota's global vehicle sales fell 4.8% in July compared to the previous year.
- Global production dropped by 2.1% in July.
- China experienced a 24.3% decline in sales, its sixth consecutive monthly decrease.
- Sales in the Middle East saw a significant drop of 44.5%.
- Exports from Japan increased by 10.2%.
Toyota Motor reported a decrease in global vehicle sales and production for July, primarily impacted by significant downturns in China and the Middle East. Global sales fell by 4.8% year-on-year to 856,125 vehicles, while production declined by 2.1%.
The sharp 24.3% plunge in China, attributed to higher petrol prices affecting demand for hybrid and traditional combustion engine vehicles, marked the sixth consecutive month of decline in that market. Sales in the United States, Toyota's largest market, slipped by 0.8%, and sales in the Middle East dropped by a substantial 44.5%.
These declines were partially offset by an 11.0% rise in sales in Japan. Production figures mirrored the sales trend, with a 32.7% drop in China and a 4.0% decrease in the United States, despite a 12.4% increase in production in Japan.
Exports from Japan, however, showed strength, rising 10.2% from the previous year to over 196,000 vehicles, marking the third consecutive month of increase and the highest level since October. Toyota's reported figures encompass sales from its luxury Lexus brand.