Japanese automaker Toyota Motor TM said on Wednesday that it sold 853,149 Toyota and Lexus brand vehicles worldwide in September, a drop of 7.4% from September 2023, marking four consecutive months of drop in sales.
What Happened: The dip in global sales was spurred by a sales decline in Japan, the U.S., and China.
The company's sales in Japan dipped by 6.3% year-on-year to 135,179 units owing to the operation suspension caused by Typhoon No.10 to the end of August.
In the U.S., sales dipped 20.3% due to the product suspension caused by the recall of the Lexus TX and Toyota Grand Highlander in June in addition to impacts from the hurricane to the end of September.
In China, too, sales fell 9.2% to 160,457 units owing to “continued severe market conditions” including an intensifying price war, the company said.
Production worldwide fell 8.3% to 826,556 units in September, marking the eighth consecutive month of decline. The decline was spurred by a decline in production in Japan and China where production fell 10.6% and 18.8%, respectively.
Toyota's EV Sales: Toyota sold 403,221 electrified Toyota and Lexus vehicles globally in September, marking a jump of about 16% from Sept. 2023. Electrified vehicles refer to hybrids, plug-in hybrids, battery electric vehicles, mild hybrids, and fuel-cell electric vehicles.
Pure electric vehicles or BEVs accounted for just 2.8% of Toyota's overall electrified vehicle sales last month.
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Photo courtesy: Toyota
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