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Toyota Sales Plummet Amidst Mideast, China Woes
29 Jun
Summary
- Toyota's global sales fell 7.4% in May, marking the fourth monthly drop.
- Middle East sales plunged 38.6% due to disruptions.
- China sales dropped 31.7% amid intense local EV competition.
Toyota Motor Corp. reported another global sales decrease in May, with figures dropping by 7.4% compared to the previous year. This decline, which includes sales from Daihatsu, brings the total to 885,207 units, representing the fourth consecutive month of falling sales. Production also saw a reduction of 5.8%, totaling 857,765 units.
The Middle East region remains a significant challenge for Toyota, with sales in that area experiencing a sharp 38.6% decrease. Simultaneously, sales in China declined by 31.7%, attributed to escalating competition from local electric vehicle manufacturers. These figures reflect broader challenges within Japan's automotive sector.
Other major Japanese automakers also reported sales downturns. Honda Motor Co. saw a 4.9% global sales drop, with its Middle East sales falling by 52%. Nissan Motor Co.'s sales decreased by 10.3%, facing significant declines in Europe and China. These trends may intensify pressure on Toyota's profit forecasts, particularly concerning its operating income for the fiscal year ending March 2027.
