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

Toyota Motor's November Sales Analysis

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

China Market: Reason for the Sales Decline

The biggest factor behind the slowdown in sales is undoubtedly the Chinese market. In the country, sales dropped by 12.1% year-on-year, resulting in 154,465 vehicles sold. Toyota lists the end of incentive programs, uncertainty over new policies, and changes made to key models like the RAV4 as the reasons for this decline.

Performance in Japan and Abroad

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

Market Size and Diversity

In North America, sales showed resilience with a 2.7% increase, while Europe recorded a 5.3% decline. Additionally, other regions in Asia also experienced mid-single-digit reductions. This proves that the slowdown in sales in November is not limited to China, although the largest decline originated from there.

Brand Performances

Total sales of Toyota and Lexus decreased by 2.2%, falling to 900,011 vehicles, while Daihatsu Motor reached 57,271 units with an increase of 8.3%. Hino Motors' sales, however, 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 is recorded as the first production decline of 2025. The production decrease occurring above the sales decline indicates a more cautious production approach as demand normalizes. Total production for Toyota and Lexus decreased by 5.5%, dropping to 821,723 units, while Daihatsu's production increased by 20.5%, reaching 103,250 units. Hino Motors' production fell by 24.8%, dropping to 9,028 units.