Toyota’s (7203.T) global production decreased for the fourth consecutive month in May compared to the previous year, primarily due to reduced output in several overseas markets. The decline was particularly pronounced in China, where local brands have become increasingly competitive.
In May, production dropped by 4% to 812,191 vehicles, with a 22% decrease in China. This decline is attributed to strong competition from Chinese brands and an intense price war in the world’s largest car market.
The Japanese automaker also experienced lower production in markets such as Thailand, Mexico, Brazil, and France, though output increased in the U.S. and Japan.
Despite the production decrease, Toyota’s global sales rose by 0.3% during the month, with growth in overseas markets like the U.S. and Europe offsetting declining sales in Japan and China.
Both sales and production figures include the luxury Lexus brand.
