Toyota Worldwide Output Drops for 8th Straight Month in September

Reuters

13:46 JST, October 30, 2024

TOKYO (Reuters) – Toyota Motor said on Wednesday its worldwide production fell for an eighth straight month in September, as both sales and output declined in its two biggest markets, the United States and China.

The Japanese automaker’s global output for September fell 8% compared to the same month a year earlier to 826,556 vehicles, with U.S. production down 14% and that in China dropping 19%.

U.S. output suffered from a production and delivery suspension of the Grand Highlander and Lexus TX sport utility vehicles due to an airbag issue.

Toyota resumed production of the suspended models on Oct. 21, it said.

In China, the world’s biggest automaker continued to face heavy pressure from the shift to electric vehicles and plug-in hybrids sold by Chinese brands.

Toyota reported a 7% drop in global sales in September to 853,149 vehicles, with U.S. sales slumping 20%, those in China down 9% and domestic sales slipping 6%.

Toyota has sold 7.4 million vehicles during the first nine months of the year, down 2% year-on-year.

The production and sales figures include its luxury Lexus brand.