SignalJapan

Toyota monthly sales fall as China slump enters eighth month

Toyota sales decline extends China slump to eighth consecutive month.

Context

What happened: Toyota's September sales fell, with China marking an eighth straight month of declines as higher gas prices weighed on demand for non-electric vehicles. Key numbers: Global sales fell 2.9% to 921,847 units. Production fell 4.5% to 989,168 vehicles. China Toyota and Lexus sales fell 20%. Japan rose 1.8%, North America 8.6%. Why it matters: Legacy manufacturers are struggling to compete with Chinese brands making battery-powered cars with the latest features and onboard software. Toyota's hybrid demand supported sales in Japan, Europe and the U.S. Coverage: 3 outlets in 24h

What changed

Toyota's September sales fell, with China marking an eighth straight month of declines as higher gas prices weighed on demand for non-electric vehicles.

Why it matters

Legacy manufacturers are struggling to compete with Chinese brands making battery-powered cars with the latest features and onboard software. Toyota's hybrid demand supported sales in Japan, Europe and the U.S.

Sources

japan_times