Toyota global sales and production fall for second straight month in August
Weakness across key overseas markets extends Toyota's August slowdown, with demand in China, the U.S. and the Middle East continuing to weigh on volumes. The declines affect both sales and factory output, even as Japan posts sales growth and the figures include the Lexus luxury brand.
Highlights
- Toyota global vehicle sales in August fall 6.4% year-on-year to 790,743 units, with production down 5.9% to 700,860 units.
- China sales drop 22.8% for a seventh consecutive monthly decline, while U.S. sales decrease 4.4% and Middle East sales plummet 37.5%.
- Production declines 11.3% in China, 6.6% in the U.S., and 1.7% in Japan, impacted by a Kyushu earthquake suspension.
August declines deepen across major markets
As reported by Reuters, Toyota Motor says its global vehicle sales in August fall 6.4% from a year earlier to 790,743 vehicles, while production drops 5.9% to 700,860 vehicles.China remains the biggest drag on demand, with sales there plunging 22.8% for a seventh straight monthly decline. Higher petrol prices weigh on demand for hybrid and traditional combustion-engine vehicles.
In the U.S., Toyota's largest market, sales fall 4.4%, while Middle East sales slump 37.5%. Those declines offset a 9.1% rise in Japan.
Output pressure reflects overseas weakness and Japan disruption
Manufacturing trends also remain under pressure across Toyota's main production bases. Output falls 11.3% in China and 6.6% in the U.S.Production in Japan declines 1.7%, partly because of suspensions after an earthquake on the southern island of Kyushu. The August results mark the second straight month of declines in both global sales and production.
Our earlier coverage of the recent rise in oil prices highlighted how Middle East supply-disruption risks kept crude elevated even as Gulf export volumes showed signs of recovery. We also noted that expectations around U.S.–Iran talks and potential U.S. fuel measures were shaping market sentiment by balancing geopolitical risk against the prospect of eased supply pressures.
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