Toyota sales, production fall on sharp declines in China, Middle East

Toyota Motor said on Friday that its worldwide sales and production both declined in July, according to Business Recorder, which cited Reuters. Total sales reached 856,125 vehicles, down 4.8 per cent on a year earlier, while output slipped 2.1 per cent. Weaker results in China, the United States and the Middle East outweighed a firmer performance in Japan.

China was the largest drag, as sales there sank 24.3 per cent, a sixth straight monthly fall. Toyota linked the weakness to higher petrol prices, which dampened demand for both hybrid and conventional combustion engine models. In the United States, its biggest market, sales eased 0.8 per cent, while Middle East sales plunged 44.5 per cent.

Japan provided a partial offset, with sales there up 11.0 per cent and output rising 12.4 per cent. Exports from the country climbed 10.2 per cent, reaching a little above 196,000 units, a third consecutive monthly gain and the highest since October. The totals also cover Lexus, Toyota's luxury brand.