Toyota says sales recovering 'faster than expected' - Just Auto
Join Our Newsletter - Get important industry news and analysis sent to your inbox – sign up to our e-Newsletter here
X

Toyota says sales recovering ‘faster than expected’

01 Sep 2020

Toyota says its global sales and production recovered to 90 percent of previous year’s level in July and that sales are recovering at a 'faster than expected pace'.

Toyota says its global sales and production recovered to 90 percent of previous year’s level in July and that sales are recovering at a ‘faster than expected pace’.

Toyota Motor Corporation (TMC) announces its sales, production, and export results for July 2020 as well as the cumulative total from January to July 2020, including those for subsidiaries Daihatsu Motor Co., Ltd. and Hino Motors, Ltd.

Global sales in July were down 12.0 percent from the previous year, recovering at a faster than expected pace.

Toyota said the recovery is being driven primarily by China (up 19.1 percent), the U.S. (down 19.0 percent), Europe (up 14.5 percent), and Japan (down 17.0 percent), and the trend continues toward recovery.

(The June figures were China: up 22.8 percent, U.S.: down 26.2 percent; Europe: down 11.5 percent, and Japan: down 22.7 percent.)

Global production in July was down 10.2 percent from the previous year (compared to down 24.0 percent in June), and recovery trend is continuing. Production in the U.S. and China exceeded previous year’s levels, and domestic production likewise recovered to 78.0 percent of previous year’s level.

July: up 31.3 percent (Juneup 21.6 percent)

Strong sales of RAV4 and Camry pushed up sales exceeding last year’s level.

July: up 19.0 percent (June down 16.3 percent)

The market in general is on the path of recovery. Strong sales of light trucks, as well as of Camry and Highlander HEV and other electrified vehicles, resulted in sales exceeding last year’s level.

July: down 22.0 percent (down 44.8 percent)

Global market recovery resulted in sales performance as planned, Toyota said.

July sales Results

Toyota:

  • Worldwide sales: Seventh consecutive month of decrease;
  • Sales inside of Japan (incl. minivehicles): Tenth consecutive month of decrease;
  • Sales outside of Japan: Seventh consecutive month of decrease

Consolidated:

  • Worldwide sales: Seventh consecutive month of decrease;
  • Sales inside of Japan (incl. minivehicles): Tenth consecutive month of decrease;
  • Sales outside of Japan: Seventh consecutive month of decrease

Production Results

Toyota:

  • Worldwide production: Seventh consecutive month of decrease;
  • Production inside of Japan: Tenth consecutive month of decrease;
  • Production outside of Japan: Seventh consecutive month of decrease

Consolidated:

  • Worldwide production: Tenth consecutive month of decrease;
  • Production inside of Japan: Tenth consecutive month of decrease;
  • Production outside of Japan: Fourteenth consecutive month of decrease

Exports Results

Toyota:

  • Eighth consecutive month of decrease

Consolidated:

  • Eighth consecutive month of decrease