Toyota's May 2024 Sales, Production and Export Data A Comprehensive Update

TapTechNews June 29th news, Toyota Motor Corporation has now released its sales, production and export data for May 2024, including data from its subsidiaries Daihatsu Motor Company and Hino Motors.

In May 2024, the global production of the Toyota brand reached 812,191 vehicles, a year-on-year decrease of 4.1%, which is also the fourth consecutive month of decline for Toyota; the global sales reached 840,681 vehicles, a year-on-year increase of 0.3%.

During the same period, the overall production of Toyota Motor Corporation reached 900,195 vehicles, a year-on-year decrease of 5.0%; the global sales was 888,491 vehicles, a year-on-year decrease of 2.0%, mainly due to the decrease in production in overseas markets, especially in the Chinese market which had the most severe decline.

The company stated that due to the increasingly fierce competition from Chinese local brands (especially self-owned brands), the production of Toyota in markets outside of Japan decreased by 7.0% (to 556,877 vehicles), and the production in the Chinese market plummeted by 21.7%.

Except for China, the production in markets such as Thailand, Mexico, Brazil, and France also decreased, but the production in the US and Japanese markets increased, slightly offsetting this downward trend.

Toyota added that despite the recent recall that led to the suspension of production of the Prius hybrid model, due to the addition of two working days in Japanese factories compared to the same period last year, its production in its home country still increased by 2.8% to 255,314 vehicles.

TapTechNews noted that Toyota's global sales in May increased slightly by 0.3% to 840,681 vehicles, but its sales in Japan decreased by 12.7% to 102,071 vehicles; sales in regions outside of Japan set a new record high in May, reaching 738,610 vehicles, an increase of 2.4% year-on-year.