Toyota's global production figures dropped for the 7th consecutive month

RahulNagaraj · 28th September 2024, 13:32

According to reports, Toyota Motor Corporation's global production figures have dropped for the 7th consecutive month. Reports blame domestic scandals and recalls abroad for the declining production and sales numbers.

Global output of Toyota, including its subsidiaries Daihatsu and Hino Motors, fell by 12.6% in August to 808,023 units, compared to the same month last year. Reports also stated that global sales of the automaker dropped 3.7% year-on-year, while in its home market of Japan, sales fell by a massive 9%.

Toyota's global production figures dropped for the 7th consecutive month-prius.jpg

Toyota is said to be facing intense competition from China. Toyota sales in China dropped by 13.5% with 152,065 units sold in August. Reports claim Toyota has scaled back its 2026 annual EV sales goal from 1.5 million to 1 million, amidst the downturn in demand for EVs.

The Japanese carmaker sold 12,682 BEVs in August, of which only 119 were sold outside the home market. In comparison, Toyota managed to record 336,848 units of hybrid sales last month - 22% more than last year.

Source: Reuters

Link to Team-BHP news

theMAG · 29th September 2024, 17:32

Toyota's reputation for reliability took a serious beating with their recent voluntary recall of 100,000+ new generation 2022 model year Tundras and Lexus LX that shared the new non-hybrid 3L turbocharged motor which was found to be grenading due to residual impurities in the motors introduced during manufacturing; Toyota is replacing the engines in all these vehicles.

In addition, the new Tacoma is also reported to have transmission issues.

While Toyota's efforts to correct these are commendable, it'll take a while for a product company to return to previous levels of profitability and sales in circumstances like Toyota's.

SKC-auto · 29th September 2024, 22:54

Toyota proved right again and looks like the plan is working as expected.

https://www.team-bhp.com/forum/inter...less-cars.html (Doing the unthinkable: Toyota wants to sell less cars)

So, Toyota is selling 150K vehicles every month in China, or 1.8Million in an year. Or approx 16% of their sales come from China.

I see this 16% China sales to evaporate in next 5 years.

28th September 2024, 13:32	#1
RahulNagaraj Senior - BHPian Join Date: Mar 2021 Location: Bangalore Posts: 2,498 Thanked: 23,791 Times	Toyota's global production figures dropped for the 7th consecutive month According to reports, Toyota Motor Corporation's global production figures have dropped for the 7th consecutive month. Reports blame domestic scandals and recalls abroad for the declining production and sales numbers. Global output of Toyota, including its subsidiaries Daihatsu and Hino Motors, fell by 12.6% in August to 808,023 units, compared to the same month last year. Reports also stated that global sales of the automaker dropped 3.7% year-on-year, while in its home market of Japan, sales fell by a massive 9%. Toyota is said to be facing intense competition from China. Toyota sales in China dropped by 13.5% with 152,065 units sold in August. Reports claim Toyota has scaled back its 2026 annual EV sales goal from 1.5 million to 1 million, amidst the downturn in demand for EVs. The Japanese carmaker sold 12,682 BEVs in August, of which only 119 were sold outside the home market. In comparison, Toyota managed to record 336,848 units of hybrid sales last month - 22% more than last year. Source: Reuters Link to Team-BHP news Last edited by RahulNagaraj : 28th September 2024 at 13:33.
	(2) Thanks

29th September 2024, 17:32	#2
theMAG Distinguished - BHPian Join Date: May 2006 Location: Avon, CT Posts: 7,219 Thanked: 1,816 Times View My Garage	Re: Toyota's global production figures dropped for the 7th consecutive month Toyota's reputation for reliability took a serious beating with their recent voluntary recall of 100,000+ new generation 2022 model year Tundras and Lexus LX that shared the new non-hybrid 3L turbocharged motor which was found to be grenading due to residual impurities in the motors introduced during manufacturing; Toyota is replacing the engines in all these vehicles. In addition, the new Tacoma is also reported to have transmission issues. While Toyota's efforts to correct these are commendable, it'll take a while for a product company to return to previous levels of profitability and sales in circumstances like Toyota's. Last edited by theMAG : 29th September 2024 at 17:34.
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29th September 2024, 22:54	#3
SKC-auto Senior - BHPian Join Date: Jan 2020 Location: KA01/AP31 Posts: 1,273 Thanked: 3,815 Times	Re: Toyota's global production figures dropped for the 7th consecutive month Toyota proved right again and looks like the plan is working as expected. https://www.team-bhp.com/forum/inter...less-cars.html (Doing the unthinkable: Toyota wants to sell less cars) So, Toyota is selling 150K vehicles every month in China, or 1.8Million in an year. Or approx 16% of their sales come from China. I see this 16% China sales to evaporate in next 5 years. Last edited by SKC-auto : 29th September 2024 at 23:01.
	(1) Thanks