The decline comes amid a quality scandal and declining sales in China that have reduced production both domestically and internationally. Toyota said in a statement on October 30 that it produced 4.71 million Toyota and Lexus vehicles in the first half of fiscal 2024.
That would represent a decline from a record 5.06 million vehicles sold in the same period in 2023, as increased semiconductor supplies helped boost global output.
Accordingly, Toyota's domestic output decreased by 9.4%, or to 1.53 million vehicles, in the context that the company stopped producing the Yaris Cross sports car and two other models for 3 months after discovering that government standards in vehicle testing were not being followed.
Toyota said the recall of its Prius hybrid model was also a factor in the decline in production. The company’s output outside Japan fell 5.8 percent to 3.17 million vehicles, largely due to a decline in China as it faces fierce price competition from “domestic” rivals such as BYD Co.
Meanwhile, in other overseas regions, output in North America fell 1.7%, while Europe recorded growth of 3.2%.
Toyota said its global sales fell 2.8% to 5.03 million vehicles in the April-September period, marking its first decline in four years. Sales in Japan fell 9.3% to 716,588 vehicles and overseas sales fell 1.6% to 4.31 million vehicles.
In the first six months of 2024, Toyota sold 78,178 electric vehicles worldwide, up 32.5% from 2023. Hybrid vehicle sales rose 21.1% to 2.03 million units, partly due to lower prices boosting demand.
