Toyota Global Sales Decline by 2.3% in February Amid Model Transitions and Regional Shifts

[Market Update] Toyota Motor Corporation reported a 2.3% year-over-year decline in global sales for February.

Key Developments: Sharp 13.9% Drop in China, U.S. Sales Rise 3.2% Despite Headwinds

Toyota (including Lexus, Daihatsu, and Hino) sold 806,905 vehicles globally in February, down 2.3% year-over-year. Sales in China totaled 82,471 units, plunging 13.9% due to fewer business days during the shortened Lunar New Year holiday and intensified market competition. In contrast, U.S. sales reached 180,950 units, up 3.2%, driven by steady demand for hybrid electric vehicles (HEVs) and models such as the Corolla and Camry.

Key Metrics: Weak Domestic Performance Drags Overall Results

Sales in Japan amounted to 122,264 units, falling 8.3% year-over-year, while overseas sales totaled 614,870 units, down slightly by 2.2%. Cumulative global sales for January and February reached 1,559,711 units.

Strategic Context: Model Transition Triggers Fourth Consecutive Monthly Output Decline

Global production in February stood at 868,368 units, down 2.2% year-over-year, marking the fourth straight month of decline. Production adjustments related to the RAV4 model transition led to output drops of 11.5% in China, 46.2% in Canada, and 20.4% in the Middle East, with only modest increases recorded in the U.S. and Europe.