Toyota sold 83,332 vehicles in the Chinese market in February, down 35.7% year-on-year

　　On March 28, Toyota Motor announced its global and mainland sales for February 2024.

Toyota

　　Toyota Motor Corporation announced that its global production in February 2024 reached 789138 units, down 12.1% y/y, and global sales reached 753648 units, down 12.0% y/y. Among them, the sales volume in the Chinese market was 83,332 units, a year-on-year decrease of 35.7%.

　　Nearly two-fifths of Toyota's cars sold in February were gasoline-electric hybrids. Toyota, the world's largest car market, saw its sales in China fall by nearly 36 percent. The reason for this is that the week-long Lunar New Year holiday is in February, compared to January last year. Toyota said that fierce competition in the Chinese auto market has affected sales. In addition, Toyota's sales in Indonesia and Thailand also saw double-digit declines.

　　At a time when the world is increasingly transitioning to electric vehicles, Toyota has also added research and development work on related technologies. Among them, good progress has been made in terms of batteries. Solid-state batteries have the characteristics of long-lasting endurance, fast blood recovery, and long life, and have always been regarded as the key to the next stage of electric vehicle competition. Earlier, Toyota announced that it can halve the weight, volume and cost of solid-state batteries, and can travel about 1,200 kilometers in less than 10 minutes on a charge, which will be 1.5 times faster than Tesla. In 2021, Toyota invested 1.5 trillion yen in the development of power batteries, and plans to achieve small-scale mass production by 2025.