Tokyo, June 29 - Toyota Motor said on Monday that worldwide vehicle sales declined for a fourth month in a row in May. The company reported that global deliveries fell 7.2% year-on-year to 834,279 vehicles, reflecting softer demand outside Japan.
Overseas shipments were down 9.6% compared with the same month a year earlier, while sales within Japan rose 11.1%. Toyota attributed the domestic increase in part to strong consumer interest in specific models, naming the RAV4 and the bZ4X as contributors to the higher volumes in Japan.
By geography, China registered the steepest fall among major markets, with sales plunging 31.7% amid what Toyota described as difficult market conditions, with rising petrol prices cited as a partial factor affecting buyer behavior. The Middle East recorded a 38.6% slump. In the United States, Toyota’s largest market, sales were essentially flat, edging down 0.6% year-on-year.
Production totals also moved lower in May. Global manufacturing of Toyota vehicles declined 5.5% from a year earlier. That drop included a 3.8% fall in production in the U.S. and a 13.3% decrease across Asia, while production in Japan rose, partially offsetting the broader decline.
Toyota’s published figures incorporate its luxury Lexus brand.
Key takeaways
- Global vehicle sales fell 7.2% year-on-year to 834,279 units in May.
- Overseas sales dropped 9.6%, while Japan sales rose 11.1% driven by demand for RAV4 and bZ4X.
- Regional performance varied sharply: China -31.7%, Middle East -38.6%, U.S. -0.6%.
- Global production declined 5.5% year-on-year, with U.S. production down 3.8% and Asia down 13.3%, offset by increased production in Japan.
Impacted sectors
- Automotive manufacturing and sales networks, given the declines in global deliveries and production.
- Energy markets, as rising petrol prices are cited as a partial factor in lower sales in China.
Risks and uncertainties
- Persistently weak demand in key regions such as China and the Middle East could continue to depress international sales and production, affecting the automotive sector.
- Rising petrol prices are identified as a contributing factor to lower sales in China and may present ongoing demand risk for fuel-sensitive markets.
- Production declines in the U.S. and Asia introduce uncertainty for supply continuity and near-term output in global vehicle manufacturing.
These figures present a snapshot of Toyota’s global sales and production for May and include the company’s Lexus brand in the totals. The company did not provide additional commentary beyond the reported figures in its release.