Toyota Global Sales Drop 7.2% in May, China Plunges 31.7% Year-on-Year

According to data released by Toyota Motor Corporation, global sales of the Toyota brand (including Lexus) totaled 834,279 units in May 2024, down 7.2% year-over-year, marking the fourth consecutive month of annual decline. Overseas sales dropped by 9.6%, while domestic sales in Japan rose by 11.1%, driven primarily by stronger demand for models such as the RAV4 and bZ4X, making Japan the only region to post growth. Including its subsidiary Daihatsu, the Toyota Group recorded global sales of 885,207 units in May, a 7.4% year-over-year decrease. Sales in Japan reached 156,639 units, up 6.5% year-over-year, while sales outside Japan totaled 728,568 units, down 9.9%. By region, sales in China fell sharply by 31.7% year-over-year to 102,299 units—the fourth straight month of decline compared to the same period last year—and the drop widened from April’s 25.4% decline, mainly due to weak demand for internal combustion engine vehicles. The Middle East saw the steepest regional decline, with sales plunging 38.6%. In the U.S. market, sales dipped slightly by 0.6%. Regarding electrified vehicles (including plug-in hybrids, hybrids, and fuel cell vehicles), Toyota-brand global sales of electrified models reached 467,584 units in May, up 10.2% year-over-year. However, in China, electrified vehicle sales declined by 10.9% to 70,667 units.