Toyota Motor announced on Thursday (Aug 29) that its global production fell for the sixth month in a row in July, though the decline was smaller than the double-digit drop experienced in the previous month. The automaker reported that output for July decreased by 1 per cent compared to the same month last year, with production levels reaching 804,610 vehicles. The decline was notably driven by reductions in key markets such as China and Thailand, where production fell by 6 per cent and 13 per cent, respectively.
Worldwide sales also saw a slight dip of less than 1 per cent, largely due to downturns in major markets like the United States and China. In the US, sales were down by 5 per cent, attributed to a reduced number of sales days compared to the previous year, as well as a suspension of production and delivery for the Grand Highlander and Lexus TX sport utility vehicles due to an airbag issue.
In China, sales were similarly impacted, as foreign auto brands, including Toyota, continue to face increasing pressure from the rising popularity of electric vehicles and plug-in hybrids manufactured by local Chinese automakers.
It's important to note that Toyota's global sales and production figures encompass its Lexus luxury brand.
Source: Reuters/ec
