Sales Of Toyota Vehicles Fell By 7.3 Percent

Japanese carmaker Toyota Motor reported a drop in vehicle sales worldwide for the second month in a row, mainly due to lower demand in the Middle East.

Total sales in March fell to 897,871 vehicles and were down 7.3 percent compared to the same period last year, Reuters reported. Sales abroad decreased by 7.2 percent, and on the domestic market by 7.8 percent.

The biggest drop was recorded in the Middle East, where sales were down by almost a third, while a drop of 8.5 percent was recorded in the United States and 8.0 percent in China. The drop in demand in that region is associated with disruptions in trade and transport through the Strait of Hormuz due to current geopolitical tensions. The company states that the basic demand remained stable but that the transition to a new generation of one of the best-selling models (Toyota RAV4) temporarily affected the results.

At the same time, Toyota’s global production increased by 2.1 percent, with growth in the US and China, while a decline was recorded in Japan. According to estimates, the Japanese company will retain its position as the largest car manufacturer in the world in terms of sales in 2025.

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