It is known that this decline comes in the context of Toyota's quality and sales scandal in China, reducing both domestic and foreign production. In an announcement on October 30, Toyota said it had produced 4.71 million Toyota and Lexus models in the first half of fiscal 2024.
This shows that the number of vehicles sold decreased compared to a record 5.06 million vehicles in the same period in 2023, when the supply of semiconductor devices increased, helping to increase global output.
Accordingly, Toyota's domestic output decreased by 9.4%, or 1.53 million vehicles, in the context of the company stopping the production of Yaris Cross sports cars and 2 other models for 3 months after discovering that government standards in vehicle testing were not complied with.
A Toyota representative said that the recall of the Prius Hyundai model is also a reason for the decrease in production. The company's output outside Japan fell 5.8% to 3.17 million vehicles, mainly due to the decline in China when having to compete fiercely with "domestic" rivals such as BYD Co.
Meanwhile, in other overseas regions, North American output fell 1.7%, while Europe recorded a 3.2% increase.
According to Toyota, its global sales fell 2.8% to 5.03 million vehicles in the April-September 2024 period, marking the 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 6 months of 2024, Toyota sold 78,178 electric vehicles worldwide, up 32.5% compared to 2023. Hybrid vehicle sales increased by 21.1% to 2.03 million units, partly due to falling prices driving up demand.
