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Toyota's global volumes fall in April, led by drops in China and Japan

Published 05/30/2024, 12:36 AM
Updated 05/31/2024, 12:22 AM
© Reuters. FILE PHOTO: A Toyota logo is seen at the New York International Auto Show Press Preview, in Manhattan, New York City, U.S., March 27, 2024. REUTERS/David Dee Delgado/file photo
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TOKYO (Reuters) - Toyota Motor (NYSE:TM)'s April global sales and production fell from a year earlier, hurt by an intense price war in China and a decline in Japan after a production stoppage of some models and a safety test scandal at its small car unit.

Global sales fell 0.5% in April, as a 27% slump in China - the world's biggest auto market - and a 14% drop in Japan offset double-digit growth in the United States and Europe. Toyota said its China sales fell even as it held promotional events at stores across the country.

Automakers have been locked in a fierce price war in China's huge but crowded auto market. Japanese car makers face huge pressure from the shift to electric vehicles and plug-in hybrids sold by Chinese brands.

Toyota's Japan sales were hit by a temporary halt to production of the Prius model at its Tsutsumi plant for quality checks and a partial halt of production at a line at a Toyota Auto Body plant that makes Noah and Voxy minivans. It also faced fallout from the scandal at small car maker Daihatsu.

The world's top automaker by volume reported a 4.0% drop in global production, as weaker output in markets such as China, Japan, Thailand and Mexico outweighed higher production in the United States and India.

In February and March, Toyota was forced to repeatedly halt production at the plant in Tijuana, Mexico, where it makes the Tacoma pickup truck, Reuters reported this month.

© Reuters. A view of the newly redesigned 2023 Prius unveiled by Japanese automaker Toyota prior to the start of the Los Angeles Auto Show, November 16, 2022. REUTERS/Mike Blake/File Photo

Nearly 40% of the vehicles sold by Toyota in April were gasoline-electric hybrids. Only 2% were electric vehicles.

Global sales and production figures include Toyota's Lexus luxury brand. Separate figures for Daihatsu showed its worldwide sales plunged 54% in April.

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