Toyota Global Sales Decline for Second Consecutive Month

[Market Update] Toyota sold 897,871 vehicles globally in March, down 7.3% year-over-year, marking the second consecutive month of decline.

Core Developments: RAV4 Model Transition and Middle East Instability Weigh on Deliveries

The RAV4, one of Toyota's best-selling models worldwide, is currently undergoing a generational transition, disrupting production and delivery schedules. Additionally, sales in the Middle East plummeted by nearly one-third (approximately 34,000 units), impacted by shipping disruptions in the Strait of Hormuz and regional economic conditions.

Key Metrics: China Sales Down 8%, Electrified Vehicles Account for Over 60%

Sales in China totaled 142,706 units, a 8% year-over-year decrease; however, electrified vehicle sales (including HEVs) reached 86,469 units, up 7.1% year-over-year, representing 60.6% of total China sales. The U.S. market also declined by 8.5%, while domestic sales in Japan fell by 7.8%.

Strategic Outlook: Underlying Demand Remains Stable Despite Short-Term Disruptions

Toyota stated that underlying demand remains unchanged, attributing recent volatility primarily to overlapping factors of product cycle adjustments and geopolitical risks, rather than structural decline.