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

Toyota Motor's November Sales Analysis

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

Reasons for the Decline in Sales in the Chinese Market

The main factor behind the sales slowdown is undoubtedly the Chinese market. In the country, sales fell by 12.1% year-on-year, totaling 154,465 vehicles sold. 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 Abroad

Sales in Japan increased by 1.5% to reach 177,130 units, indicating stable domestic demand. However, sales outside Japan fell by 2.6% to 788,789 vehicles. This indicates that there is overall pressure across international markets.

Market Size and Diversity

In North America, sales showed resistance with a 2.7% increase, while Europe saw a 5.3% decline. Additionally, other regions in Asia witnessed mid-single-digit percentage decreases. This demonstrates that the sales slowdown in November was not limited to China, but the largest decline originated from there.

Brand Performance

Total sales of Toyota and Lexus decreased by 2.2% to 900,011 vehicles, drawing attention, while Daihatsu Motor increased sales by 8.3% to 57,271 units. Hino Motors’ sales, on the other hand, decreased by 20.8% to 8,637 units.

Production Figures

On the production side, total global production fell 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 as demand normalizes. Toyota and Lexus’ total production decreased 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.