Toyota's global volumes fall in April as sales drop in China and Japan

Toyota's Japan sales were hit by a temporary halt to production of the Prius model at its Tsutsumi plant for quality checks and a partial halt of production at a line at a Toyota Auto Body plant

Toyota, Toyota logo
Toyota, Toyota logo.(Photo: Reuters)
Reuters
2 min read Last Updated : May 30 2024 | 11:48 AM IST
Toyota Motor's April global sales and production fell from a year earlier, hurt by an intense price war in China and a decline in Japan after a production stoppage of some models and a safety test scandal at its small car unit.
 
Global sales fell 0.5 per cent in April, as a 27 per cent slump in China - the world's biggest auto market - and a 14 per cent drop in Japan offset double-digit growth in the United States and Europe. Toyota said its China sales fell even as it held promotional events at stores across the country.
 
Automakers have been locked in a fierce price war in China's huge but crowded auto market. Japanese car makers face huge pressure from the shift to electric vehicles and plug-in hybrids sold by Chinese brands.
 
Toyota's Japan sales were hit by a temporary halt to production of the Prius model at its Tsutsumi plant for quality checks and a partial halt of production at a line at a Toyota Auto Body plant that makes Noah and Voxy minivans. It also faced fallout from the scandal at small car maker Daihatsu.
 
The world's top automaker by volume reported a 4.0 per cent drop in global production, as weaker output in markets such as China, Japan, Thailand and Mexico outweighed higher production in the United States and India.
 
In February and March, Toyota was forced to repeatedly halt production at the plant in Tijuana, Mexico, where it makes the Tacoma pickup truck, Reuters reported this month.
 
Nearly 40 per cent of the vehicles sold by Toyota in April were gasoline-electric hybrids. Only 2 per cent were electric vehicles.
 
Global sales and production figures include Toyota's Lexus luxury brand. Separate figures for Daihatsu showed its worldwide sales plunged 54 per cent in April.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :Toyota Toyota MotorCar salesChinaJapan

First Published: May 30 2024 | 11:48 AM IST

Next Story