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the world's largest automaker's output has declined year-on-year for 7 consecutive months

2024-09-30

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jiemian news reporter丨wei yongmeng

september 27, data released by toyota motor corporation show that its augustglobal production was 709,000 units.compared with the same period last yeardecline11.2%. it is worth noting thatthis is already the world’s largest automobile manufacturer in terms of outputcontinuousno.7 monthsthere was a year-on-year decline.

in august, the most severe decline in toyota production was in japan.a year-on-year decrease of 22.2%,mainreasonyescertification violation"yaris cross" and other 3 modelsdiscontinuedbesides,typhoonthe resulting shutdown is also an important factor, all 14 local factories were shut down in late august.

toyota's production in north america fell by 11.4%, second only to japan; in the fiercely competitive chinese market, toyota continued to respond to declining sales by reducing production capacity, with production capacity falling by 4.1% year-on-year.the decline this year has been as high as 17.7%.

in the face of slowing global demand for electric vehicles,toyota has cut its 2026 electric vehicle production plan by one-third, lowering its previous target of 1.5 million vehicles to 1 million. although the proportion of electric vehicle sales is not high, it can be seen that toyota is slow and cautious in its electrification transformation. toyota is more optimistic about the development of hybrid models.it is planned to transform a number of fuel vehicles into gasoline-electric and plug-in hybrid vehicles

in terms of sales volume, toyota still ranked first in the world with nearly 7 million vehicles sold in the first eight months, but its performance in major markets was not satisfactory.year-on-yeardown 3.9%among them, japan’s domestic market declinedup to 25.3%

judging from sales in august, slight growth was achieved in both north american and european markets, but it was difficult to offset toyota's sharp decline in the asian market. in the chinese market, toyota has experienced year-on-year declines for seven consecutive months, with sales of 152,000 vehicles, a year-on-year decline of 13.5%.

toyota's best-selling model in the chinese market, the camry, will be launched in marchthe starting price is 170,000 yuan.facing the fierce price war, now it has been directly reduced to 120,000 to maintain the stability of sales. the chinese market has becomeone of toyota's worst-performing regional markets.

toyota motor said continued tough market conditions, including intensified price competition, contributed to the decline in sales.

in addition, in southeast asia, the middle east, south america and other regions, chinabrands are rapidly gaining share, and toyota's sales in these marketsshare is gradually being eroded. taking thailand as an example,since 2024,toyota's sales and production in thailand have both declined by around 15%, while the shares of independent brands such as byd and geely are rising rapidly.

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