By Reuters | Updated: June 27, 2024
TOKYO, June 27 (Reuters) – Toyota’s (7203.T) global production slid for a fourth straight month in May from a year earlier on lower output in many overseas markets, with the decline in China, where local brands have become much more competitive, particularly sharp.
Output for the month decreased 4% to 812,191 vehicles. In China, production fell 22%. In addition to strong vehicle offerings from Chinese brands, the world’s biggest car market has been engaged in a fierce price war.
The Japanese automaker also had lower production in markets such as Thailand, Mexico, Brazil and France although the U.S. and Japan saw output grow.
Toyota’s worldwide sales rose just 0.3% during the month, with growth in overseas markets such as the U.S. and Europe offsetting declining sales in Japan and China.
Both sales and production figures include the luxury Lexus brand.
@ Thomson Reuters 2024
