Toyota's November Sales Decline: Chinese Effect 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 first annual sales decline for the company in the last 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 decreased by 12.1% year-on-year, totaling 154,465 units. Toyota ranks the reasons for this decline as the end of incentive programs, uncertainty regarding new policies, and changes made to key models such as the RAV4.

Performance in Japan and Abroad

Sales in Japan showed a 1.5% increase, reaching 177,130 units, indicating stable domestic demand. However, sales outside Japan fell by 2.6%, decreasing to 788,789 units. This situation indicates that there is overall pressure in foreign 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 moderate single-digit percentage decreases. This proves that the sales slowdown in November is not limited to China, but the biggest decline originates from there.

Brand Performances

The total sales of Toyota and Lexus decreased by 2.2% to 900,011 units, drawing attention, while Daihatsu Motor reached 57,271 units with an 8.3% increase. Hino Motors' sales, on the other hand, fell by 20.8% 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 in 2025. The production decrease occurring alongside the sales decline indicates a more cautious production approach as demand normalizes. The total production of Toyota and Lexus declined 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.