On the Dash:
- Toyota’s global sales fell 4.8% to 856,125 vehicles in July, marking another monthly decline.
- China sales plunged 24.3%, while U.S. sales slipped 0.8% and Middle East sales dropped 44.5%.
- Japan sales rose 11%, helping offset declines in key overseas markets.
Toyota Motor’s global vehicle sales and production fell in July, dragged down by steep declines in China and the Middle East that outweighed a stronger showing in Japan, the automaker said Friday.
According to the automaker’s detailed report, global sales dropped 4.8% from a year earlier to 856,125 vehicles, while production fell 2.1%. China again drove the bulk of the decline. Sales there plunged 24.3%, marking a sixth consecutive month of decline, as the automaker said higher gas prices cut into demand for both hybrid and traditional combustion-engine vehicles.
Sales in the United States, Toyota’s largest market, slipped 0.8%, while Middle East sales dropped 44.5%. Japan sales rose 11.0%, but not enough to offset losses elsewhere. Production told a similar story, with a 32.7% drop in China and a 4.0% decline in the United States pulling global output lower, even as production in Japan climbed 12.4%.
Exports from Japan bucked the broader trend, rising 10.2% from a year earlier to just over 196,000 vehicles. This marked the third straight month of export growth and the highest export level since October.
Toyota’s reported figures include its luxury Lexus brand.
