Toyota's November Sales Decline: China's Impact Is Noticeable

Toyota Motor's November Sales Analysis

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

Reasons for the Decline in Sales in the Chinese Market

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

Performance in Japan and Overseas

Sales in Japan rose by 1.5% to reach 177,130 units, indicating stable domestic demand. However, sales outside Japan decreased by 2.6% to 788,789 units. This indicates that there is overall pressure in overseas markets.

Market Size and Diversity

In North America, sales showed resilience with an increase of 2.7%, while Europe recorded a decline of 5.3%. Additionally, other regions in Asia also witnessed declines in mid-single-digit percentages. This proves that the slowdown in sales in November was not limited to China, but the largest drop originated from there.

Brand Performances

The total sales of Toyota and Lexus fell by 2.2% to 900,011 units, while Daihatsu Motor saw an increase of 8.3% to reach 57,271 units. Hino Motors' sales declined significantly by 20.8%, dropping to 8,637 units.

Production Figures

On the production side, total global production decreased by 3.4% to 934,001 units. This is recorded as the first production decline of 2025. The production decrease occurring alongside the sales decline indicates a more cautious production approach in response to normalizing demand. The total production of Toyota and Lexus fell by 5.5% to 821,723 units, while Daihatsu's production increased by 20.5% to reach 103,250 units. Hino Motors' production also decreased by 24.8%, dropping to 9,028 units.