Toyota Motor, the world's largest automaker, saw its global sales decline for a fourth consecutive month in May, hit by high oil prices stemming from the Middle East conflict and weakness in the Chinese market. The broader Japanese auto industry also struggled.
According to Kyodo News and the Nihon Keizai Shimbun (Nikkei) on June 29, Toyota's global sales in May, including Lexus, totaled 834,279 units.
The figure marked a 7.2% decline from a year earlier, extending the decline to four straight months. Overseas sales, excluding solid domestic sales in Japan, fell 9.6%, a steeper drop than the overall rate.
Overseas sales came to 715,898 units, also marking a fourth consecutive month of weakness. Sales in the Middle East, where the war disrupted logistics, dropped 38.6% to 29,568 units. Sales in China plunged 31.7% to 102,299 units, while U.S. sales fell 0.6% to 238,800 units.
Toyota's domestic sales in Japan in May rose 11.1% to 118,381 units, offsetting the overseas slump with domestic demand. In India, sales increased 15.3% as a tax cut policy related to automobiles took effect.
Toyota's global sales of electric vehicles, including hybrid vehicles, in May rose 10% from a year earlier to 467,584 units, accounting for 56% of total sales.
In May, the combined global sales of eight major Japanese automakers, including Toyota, totaled 1,966,434 units, down 2.6% from a year earlier.
Among the five Japanese automakers operating in China, all but Mazda (up 4.6%) saw sales decline. Honda Motor recorded China sales of 28,385 units, down 48.6%, while Nissan Motor posted 37,782 units, down 34.9%. Honda's global sales fell 4.9% to 283,623 units, and Nissan's declined 10.3% to 229,870 units.
