Toyota's global sales fall 7% in February

Global sales volume of Toyota Motor Corporation in February fell 7% from the previous year due to a drastic decline in China due to the Lunar New Year holidays and the slump in Japan after the safety test scandal in the small car sector.

The number of units sold in China, which is the world's largest automobile market, fell 36%. Last year it was January, but this year there was a one-week Lunar New Year holiday in February.

Fierce price competition is also unfolding in the Chinese automobile market, and Toyota stated that the number of units sold was affected by fierce competition.

However, according to data from automobile industry groups, the combined decline in sales in China in January and February was quite moderate at 0.7%, and even so, it is below the 6.4% increase in overall passenger car sales.

Toyota's sales in February surged by 16% in the US and 14% in Europe, but sales in Japan fell by one-third. Despite the fact that the Daihatsu brand is not included in Toyota's global sales volume, the suspension of production of Daihatsu, which also produces some Toyota brand cars, and reputational damage due to scandals have had an impact on domestic sales.

The small car division announced almost a year ago that collision safety tests were being manipulated illegally.

Toyota's sales volume in Indonesia and Thailand also fell by double digits.

Nearly two-fifths of the vehicles sold by the world's largest automaker in February were gasoline-electric hybrids.

Global sales volume consists of Toyota brand cars and cars sold by the luxury car brand “Lexus.” Daihatsu's global sales volume in February fell 66%.

Toyota's global production volume in February fell 2.6% to 737,178 units.