Toyota's November Sales Decline: Chinese Influence Evident

Toyota Motor's November Sales Analysis

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

Reasons for the Decline in the Chinese Market

The biggest factor behind the sales slowdown is undoubtedly the Chinese market. In the country, vehicle sales decreased by 12.1% year-on-year, reaching 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 Abroad

Sales in Japan increased by 1.5%, reaching 177,130 units, indicating stable domestic demand. However, sales outside Japan dropped by 2.6%, falling to 788,789 units. This situation suggests that there is overall pressure in international 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 percentage decreases. This proves that the sales slowdown in November was not limited to China, but the largest drop originated from there.

Brand Performance

The total sales of Toyota and Lexus declined by 2.2%, reaching 900,011 units, while Daihatsu Motor saw an 8.3% increase, reaching 57,271 units. Hino Motors’ sales, on the other hand, decreased 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 in 2025. The production decrease, 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%, falling to 821,723 units, while Daihatsu's production increased by 20.5%, reaching 103,250 units. Hino Motors' production, however, decreased by 24.8%, dropping to 9,028 units.