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Toyota Sales Stagnate as Factory Woes Compound Low Demand
Mint Hyderabad
|December 26, 2024
Toyota Motor Corp.'s global sales plateaued in November as lackluster demand coalesced with a pause in production at two plants.
Vehicle sales—including that of subsidiaries Daihatsu Motor Co. and Hino Motors Ltd.—totalled 984,348 units last month, the Japanese automaker said Wednesday, down 0.2% versus November 2023. Production declined 9.4% year-on-year to 966,921 units.
While Toyota remains the world's biggest automaker, its business is feeling the strain of intense competition over hybrid gasoline-electric cars in the US and locally made electric vehicles in China. Its hold on markets across Southeast Asia is also being steadily eroded by Chinese competitors.
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