WEB DESK: Toyota’s global production has declined for the eighth consecutive month, highlighting ongoing difficulties in its key markets, including the United States and China.
In September, the Japanese automaker produced 826,500 vehicles, reflecting an 8% year-on-year decrease. The drop was most pronounced in the U.S., where production fell by 14% due to a temporary halt on the Grand Highlander and Lexus TX SUV models following airbag-related concerns. Production of these models resumed on October 21.
China also saw a substantial decrease, with Toyota’s output dropping by 19% as the automaker faces mounting competition from local electric vehicle and plug-in hybrid brands. The shift toward electric vehicles in China has intensified competition for Toyota, which is still adapting to the growing demand for EVs in this market.
Toyota’s global sales in September also mirrored its production struggles, with a 7% decline overall. U.S. sales saw a 20% decrease, while sales in China and Japan slipped by 9% and 6%, respectively. Cumulatively, Toyota has sold 7.4 million vehicles in the first nine months of 2024, a 2% reduction from the same period last year, including sales from its luxury Lexus brand.
Despite being one of the world’s leading automakers, Toyota is navigating a challenging period as it adapts to evolving market demands and production setbacks in multiple regions.
