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Toyota Motor (NYSE:TM), Japan’s leading automaker, reported a 5% global production decline and a 0.9% worldwide sales drop during the first six months of 2024.
Worldwide sales in June decreased 5.1% to 853,082 vehicles, a fifth consecutive month of decline, hurt by declines in Japan and China.
Jan to June regionwise sales: North America and Europe increased 14.6% and 10.2%, respectively, while Japan saw a 22.3% drop owing to ‘certification issues of Daihatsu, Toyota Industries, and Toyota Motors, along with the impact of the production suspension of the Prius, resulted in a year-on-year decrease,’ the company said. Asia figures declined 6% as China sales were impacted by ongoing price wars and companies like BYD (OTCPK:BYDDF) gaining increased market share.
Jan to June worldwide production dragged 5%, while production outside Japan dropped 3.4%.
The automaker is due to report Q1 earnings results on August 1, 2024.
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