Toyota Sales, Production Fall On Sharp Declines In China, Middle East
Toyota Motor said on Friday its global vehicle sales and production fell in July, weighed by declines in China, the US and the Middle East, which offset a stronger performance in Japan, reports Reuters.
Global sales fell 4.8% from a year earlier to 856,125 vehicles, while production dropped 2.1%. A 24.3% plunge in China dragged sales down, marking a sixth successive month of decline, as higher petrol prices weighed on demand for hybrid and traditional combustion engine vehicles, Toyota said.
Sales in the US, Toyota's largest market, slipped 0.8%, while those in the Middle East dropped 44.5%, offsetting an 11.0% rise in Japan. A sharp 32.7% drop in China and a 4.0% decrease in the US pulled production down, despite a 12.4% rise in Japan.
Exports from Japan rose 10.2% from a year earlier to just over 196,000 vehicles, increasing for the third consecutive month and marking the highest level since October. Toyota's figures include its luxury Lexus brand.
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