Business & Economy

Toyota’s global sales slump 22.6 percent in March

Tokyo, Apr 28 (efe-epa) – The global sales of Japanese carmaker Toyota fell by 22.6 percent in March compared to the same month last year due to the disruptions caused by the ongoing coronavirus pandemic, the company said Tuesday.

The quarterly sales of the Toyota Group – which includes subsidiaries Daihatsu Motor and Hino Motors – also declined 11 percent during the first three months of 2020.

Just like other firms in the sector, Toyota – the world’s second-largest carmaker after Volkswagen – has been forced to reduce its production due to falling demand linked to COVID-19.

The company’s sales in China plummeted in February before the decline extended to global markets in March.

The data released by the Japanese company on Tuesday shows that Toyota sold a total of 7,79,151 vehicles globally in March, a reduction of 22.6 percent year-on-year.

The sales of Toyota vehicles decreased by 23.8 percent while those of Daihatsu and Hino products declined by 10.7 percent and 24 percent respectively.

According to the company’s data, the sales of Toyota Group vehicles outside Japan fell by 29.3 percent.

Between the months of January and March, Toyota sold 2.32 million vehicles globally, 11 percent less than its sales in the first quarter of 2019.

Sales outside Japan also recorded a 12.4 percent quarterly decline.

Global production of models of all three companies declined by 17.6 percent in March while those of Toyota vehicles alone fell 20.6 percent.

In the first quarter, global production decreased by 12 percent to about 2.4 million units.

In the United States – the carmaker’s biggest market – Toyota sold 135,730 vehicles in March, a fall of 36.9 percent compared to the same month last year, while quarterly sales declined by 8.8 percent.

However, in China – Toyota’s second largest market – the Japanese company’s sales made a recovery from the massive fall experienced in February, posting an year-on-year decline of 15.9 percent in March by selling 101,771 units.

February was the worst month for Toyota in China as its sales fell by 70.2 percent compared to the same month last year.

Between January and March, Toyota’s sales in the China market reduced by 22.1 percent. efe-epa


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