Toyota's sales in China plunged 35.7% in February

Fast Technology reported on March 28 that Toyota Motor announced today that its global production in February 2024, including its subsidiaries Daihatsu Motors and Hino Motors, will reach 789138 units, down 12.1% year-on-year, and global sales will reach 753648, down 12.0% year-on-year.

In February, Toyota sold 83,332 vehicles in the Chinese market, down 35.7 percent year-on-year, citing fierce competition in the Chinese auto market that affected its sales.

By comparison, data from the Association of Automobile Manufacturers showed that China's auto sales fell by just 0.7% in January and February.

Toyota said that the global decline was mainly influenced by two factors.

First, sales fell sharply due to the Chinese New Year holiday, and second, the recent safety testing scandal in Toyota's small car division also had a negative impact on its sales in Japan.

Toyota's sales in Indonesia and Thailand have also declined by double digits, and sales in Japan have fallen by about a third.