Toyota reports a fourth consecutive monthly sales decline, led by a 31.7% plunge in China and a 38.6% drop in the Middle East.
Toyota Motor’s global vehicle sales fell 7.2% year-on-year in May to 834,279 units, marking a fourth straight monthly decline. The drop was driven by sharp contractions in China and the Middle East, where sales plunged 31.7% and 38.6%, respectively.
U.S. sales, Toyota’s largest market, dipped just 0.6%, while Japan bucked the trend with an 11.1% increase. Overseas markets overall declined 9.6%, underscoring the automaker’s struggles outside its home region. The slump in China reflects intensifying competition from domestic brands like BYD and Geely.
Toyota attributed the downturn to a challenging market environment, including rising gas prices and shifting consumer preferences. The company remains the world’s top automaker but faces growing pressure as rivals advance in electric vehicles and cost efficiency.