Toyota's November Sales Decline: China's Impact is Pronounced

Toyota Motor's November Sales Analysis

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

Reasons for Decline in China Market Sales

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

Performance in Japan and Overseas

Sales in Japan rose by 1.5% to 177,130 units, indicating stable domestic demand. However, sales outside of Japan fell by 2.6%, decreasing to 788,789 units. This indicates that overseas markets are experiencing general pressure.

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 saw mid-single-digit percentage decreases. This proves that the sales slowdown in November is not limited to China, although the biggest decline originates from there.

Brand Performances

The total sales of Toyota and Lexus decreased by 2.2% to 900,011 units, catching attention, while Daihatsu Motor reached 57,271 units with an 8.3% increase. Hino Motors' sales, on the other hand, fell by 20.8%, decreasing 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 decline in production within 2025. The decrease in production occurring above the sales decline indicates a more cautious production approach as demand normalizes. The total production of Toyota and Lexus decreased by 5.5% to 821,723 units, while Daihatsu's production increased by 20.5% to 103,250 units. Hino Motors' production fell by 24.8% to 9,028 units.