Africa is the standout region where Toyota and Lexus sales soared as the automaker recorded a global sales growth, with an 8.3% surge from April to September compared to the previous year.
According to Bloomberg reports, Toyota reached a historic high of 5,596,183 vehicles. The standout region in this achievement was Africa, where Toyota and Lexus sales soared by an impressive 22%, marking the highest growth rate among all regions.
The Middle East closely followed with a 17% increase, while North America experienced a solid 9.4% growth, and Europe showed a commendable 7% uptick.
In contrast, some parts of Asia, excluding Japan, faced weaker sales, partly due to economic slowdowns in countries like Thailand and Indonesia.
This outstanding performance solidifies Toyota’s position as the world’s leading automaker, driven by robust consumer demand and an improving supply chain.
Digging deeper, during the first half of the fiscal year, Toyota’s global production witnessed a substantial 10% upswing, reaching a milestone of 5,738,126 units, which includes its subsidiaries Daihatsu Motor Co. and Hino Motors Ltd. The Japanese automaker proudly announced this remarkable achievement.
However, Toyota’s performance in China was relatively subdued, with sales increasing by less than 1%. This contrasts with the robust sales from the previous year, attributed to government stimulus measures and indicative of China’s evolving consumer preference toward electric vehicles.
In Japan, Toyota experienced a remarkable 34% surge in sales, primarily due to eased supply chain challenges related to semiconductors. Over six months, Toyota managed to sell an impressive 1,825,965 electric vehicles, marking a substantial 38% increase from the previous year.
During the recent Japan Mobility Show, Takashi Watanabe, President of Lexus, shed light on the limited charging infrastructure challenge in the country, emphasizing ongoing efforts to establish a program for Lexus-specific charging stations.
For September alone, Toyota’s sales continued to shine, with a notable 10.5% increase compared to the previous year, while production remained relatively stable.
On a similar note, Honda Motor Co. reported positive results, with global production increasing by over 6% during the first half of the fiscal year and sales experiencing a noteworthy 7.5% rise, despite facing challenges in the European and Chinese markets.
Nissan Motor Co. also witnessed growth, with a 2.8% increase in global output and a 5.5% rise in sales. Nevertheless, they encountered difficulties in the Chinese market, impacting their overall performance.
Deborah Dan-Awoh is a seasoned lifestyle analyst with a knack for storytelling. The focus of her work covers people, money and culture as it relates to business and economy. When she’s not keeping tabs on the latest trends in lifestyle and finance- Deborah enjoys networking with industry experts to gain insight into major markets as it affects the populace