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

Toyota Motor's November Sales Analysis

Toyota Motor (TM) announced that its global vehicle sales decreased by 1.9% year-over-year, falling to 965,919 units as of November 2025. This marks the first annual sales decline for the company in the last 11 months.

Reason Behind the Decline in the Chinese Market

The main factor behind the slowdown in sales is undoubtedly the Chinese market. In the country, vehicle sales decreased by 12.1% year-over-year, totaling 154,465 units. Toyota cites the end of incentive programs, uncertainty regarding new policies, and changes made to key models like the RAV4 among the reasons for this decline.

Performance in Japan and Abroad

Sales in Japan showed an increase of 1.5%, reaching 177,130 units, indicating stable domestic demand. However, sales outside Japan decreased by 2.6%, falling to 788,789 units. This indicates that there is a general pressure in international markets.

Market Size and Diversity

In North America, sales resisted with a 2.7% increase, while a 5.3% decline was recorded in Europe. Additionally, other regions in Asia also experienced mid-single-digit percentage declines. This proves that the slowdown in sales in November was not limited to China, but the biggest drop originated from there.

Brand Performances

The combined sales of Toyota and Lexus decreased by 2.2%, falling to 900,011 units, while Daihatsu Motor reached 57,271 units with an increase of 8.3%. Hino Motors' sales, on the other hand, fell by 20.8%, dropping to 8,637 units.

Production Figures

On the production side, total global production decreased by 3.4%, falling to 934,001 units. This marks the first production decline within 2025. The decrease in production, which occurred against the backdrop of declining sales, signals a more cautious production approach as demand normalizes. The total production of Toyota and Lexus fell by 5.5%, dropping to 821,723 units, while Daihatsu's production increased by 20.5%, reaching 103,250 units. Hino Motors' production, however, decreased by 24.8%, falling to 9,028 units.