Toyota Faces Mixed Fortunes: Global Production Dips While Sales Edge Up

Toyota Motor Corporation experienced another decline in global production for October, marking the ninth consecutive month of decreases. However, the decline was modest at 0.8%, producing 893,164 vehicles excluding subsidiaries Daihatsu and Hino, demonstrating improvement over the previous month's 8.3% drop. On a positive note, the company's global sales saw a slight increase of 1.4%, reaching 903,103 units.

In the United States market, Toyota faced challenges due to a suspension in the production and delivery of Toyota Grand Highlander and Lexus TX SUVs, caused by airbag issues. Despite production resuming on October 21, the region still reported a 5% decline in sales compared to the same period last year, accounting for 185,916 units.

The Chinese market continued to be a battleground for Toyota, with a notable 8.7% drop in production and a 0.4% dip in sales. Production figures stood at 141,852 units, while sales reached 172,274 units. The competitive pressure from domestic electric vehicle brands has contributed to this downtrend.

Japan showed a contrasting trend with a 7.1% increase in sales in October, aided by delayed registrations due to adverse weather conditions in August. Still, the year-to-date numbers tell a different story, with an overall 14.6% decrease in sales, influenced by weak demand and regulatory challenges. October alone saw a production rise of 8.3% to 306,059 units, suggesting a recovery trajectory.

Elsewhere, the company's performance in Thailand was dim, with both production and sales dropping sharply by 12.8% and 27.3%, respectively, indicative of broader market weaknesses and tepid demand.

Including the output of Daihatsu and Hino, Toyota’s total global production dropped by 1.3% to 1,021,799 vehicles, while sales crept up by 0.4% to 974,245 vehicles, underscoring the diversified challenges and opportunities that exist within different geographic markets.