Toyota's November Sales Decline: The Impact of China is Pronounced.

Toyota Motor's November Sales Analysis

Toyota Motor (TM) announced that its global vehicle sales fell by 1.9% year-on-year to 965,919 units as of November 2025. This represents the company's first annual sales decline in the last 11 months.

Reason for the Decline in Sales in the Chinese Market

The biggest factor behind the slowdown in sales is undoubtedly the Chinese market. The country saw a 12.1% annual decline with 154,465 vehicle sales. Toyota cites the ending of incentive programs, uncertainty regarding new policies, and changes made to key models such as the RAV4 as reasons for this decline.

Performance in Japan and Abroad

Sales in Japan rose by 1.5%, reaching 177,130 units, indicating stable domestic demand. However, sales outside Japan fell by 2.6% to 788,789 vehicles. This situation shows that there is general pressure in international markets.

Market Size and Diversity

In North America, sales increased by 2.7%, while Europe recorded a 5.3% decline. Additionally, other regions in Asia experienced mid-single-digit percentage decreases. This proves that the slowdown in sales in November is not limited to China, although the largest decline is sourced from there.

Brand Performances

The total sales of Toyota and Lexus decreased by 2.2% to 900,011 vehicles, drawing attention, while Daihatsu Motor reached 57,271 vehicles with an 8.3% increase. Sales for Hino Motors dropped by 20.8% to 8,637 units.

Production Figures

On the production side, total global production declined by 3.4% to 934,001 units. This is recorded as the first production decline in 2025. The production decrease, which came amid declining sales, signifies a more cautious production approach as demand normalizes. Total production for Toyota and Lexus dropped by 5.5% to 821,723 units, while Daihatsu's production increased by 20.5% to 103,250 units. Hino Motors' production decreased by 24.8% to 9,028 units.