Toyota Motor Corp. recorded a decline in global sales and production in November, largely due to a sharp decline in China after the end of the subsidy scheme for electric vehicles (EVs) and energy-efficient vehicles (EEVs).
According to the company's report yesterday, global sales including subsidiaries Daihatsu Motor Co and Hino Motors Ltd fell 1.9% to 965,919 units compared to the same period last year.
Meanwhile, vehicle production also fell 3.4% to 934,001 units.
The global automotive industry is currently facing various uncertainties, including trade tensions, frequent regulatory changes and an uncertain economic outlook.
The performance is a key indicator of the challenges the industry faces in balancing strong long-term demand with short-term economic and policy constraints.
Sales of the Toyota and Lexus brands in China fell 12% in November following the end of exchange subsidies in major cities as the subsidy funds dwindled.
The sales decline came as tensions between China and Japan escalated after Japanese Prime Minister Sanae Takaichi issued a statement on the Taiwan issue that angered the Chinese government.
In response, China issued a warning to its citizens not to travel to Japan.
While Toyota's vehicle production in Thailand rose 15% and in the United States rose 9%, production in China fell 14%, in Japan it shrank 9.7%, and in the United Kingdom it plunged 7.9%.
However, Toyota is now also in the spotlight in the US after US President Donald Trump is considering implementing high tariffs on imported cars and parts.
