(Oct 27): Toyota Motor Corp maintained record global sales during the first half of the fiscal year, as growth in the US helped counter a lukewarm showing in Japan and China.
Global sales — including subsidiaries Daihatsu Motor Co and Hino Motors Ltd — rose almost 3% in September from a year earlier to 949,153 units, the company said Monday (Oct 27). Production grew 9% to 1,036,106.
The world’s biggest carmaker has managed to achieve overall growth, despite volatility in China and trade tensions brought about by US President Donald Trump’s tariffs on cars and parts imported to the US. It produced and sold a record number of vehicles for seven straight months this year — though its streak lost steam in August.
While Toyota and Lexus brand sales fell slightly in China and Japan in September, they rose more than 14% in the US thanks to strong demand for gas-electric hybrids, which accounted for 42% of total sales during the first half of the fiscal year. Total sales increased 5% during that time, a record for that six-month period.
Legacy brands have been losing ground in China, where domestic manufacturers led by BYD Co. have grown to dominate the world’s largest car market.
Toyota has regained a modicum of stability there, due in part to the popularity of its fully electric bZ3X and its hybrid models. But a shrinking market back home poses a long-term challenge.
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Toyota’s sales in September fell 1% in China, after more regions ended subsidies and 5% in Japan due to a drop in production following a sizable recall of the Prius.
Honda Motor Co’s global sales in September were down almost 6% to 290,275 units, it said Monday. Sales in China slid 13%.
Nissan Motor Co’s sales fell almost 4% to 278,157 units.
