Toyota reports 7% global sales decline in February, driven by weakness in China, Japan

Toyota global sales fall: Toyota Motor's global sales saw a 7 per cent drop in February compared to the previous year, largely influenced by notable declines in China and Japan. The decrease in China was particularly pronounced due to the Lunar New Year holidays falling in February this year, unlike in January last year.Sales in China plummeted by 36 per cent, attributed partly to intense competition in the market and a challenging price war environment. However, when considering combined sales for January and February, the decline in China was less severe at 0.7 per cent, though still below the industry-wide rise in passenger vehicle sales.Despite a notable 16 per cent increase in US sales and a 14 per cent rise in Europe, Toyota saw a sharp decline in Japan by one-third. The decline was partly due to production stoppages at Daihatsu, which also manufactures some Toyota-branded vehicles, and the aftermath of a safety test scandal involving Daihatsu's small-car unit.Toyota's sales in Indonesia and Thailand also witnessed double-digit declines in February. Nearly 40 per cent of Toyota's global sales for the month comprised gasoline-electric hybrids.The global sales figures include both Toyota and Lexus brand vehicles. Meanwhile, Daihatsu reported a notable 66 per cent plunge in its worldwide sales for February.Additionally, Toyota's global output for February decreased by 2.6 per cent to 737,178 vehicles.(With Reuters Inputs)

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Toyota reports 7% global sales decline in February, driven by weakness in China, Japan

The decrease in China was particularly pronounced due to the Lunar New Year holidays falling in February this year, unlike in January last year.

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