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Toyota's global volumes fall in April, led by drops in China and Japan
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Toyota's global volumes fall in April, led by drops in China and Japan
May 29, 2024 9:55 PM

TOKYO (Reuters) - Toyota Motor's ( TM ) April global sales and production fell from a year earlier, hurt by an intense price war in China and a decline in Japan after a production stoppage of some models and a safety test scandal at its small car unit.

Global sales fell 0.5% in April, as a 27% slump in China - the world's biggest auto market - and a 14% drop in Japan offset double-digit growth in the United States and Europe. Toyota ( TM ) said its China sales fell even as it held promotional events at stores across the country.

Automakers have been locked in a fierce price war in China's huge but crowded auto market. Japanese car makers face huge pressure from the shift to electric vehicles and plug-in hybrids sold by Chinese brands.

Toyota's ( TM ) Japan sales were hit by a temporary halt to production of the Prius model at its Tsutsumi plant for quality checks and a partial halt of production at a line at a Toyota Auto Body plant that makes Noah and Voxy minivans. It also faced fallout from the scandal at small car maker Daihatsu.

The world's top automaker by volume reported a 4.0% drop in global production, as weaker output in markets such as China, Japan, Thailand and Mexico outweighed higher production in the United States and India.

In February and March, Toyota ( TM ) was forced to repeatedly halt production at the plant in Tijuana, Mexico, where it makes the Tacoma pickup truck, Reuters reported this month.

Nearly 40% of the vehicles sold by Toyota ( TM ) in April were gasoline-electric hybrids. Only 2% were electric vehicles.

Global sales and production figures include Toyota's ( TM ) Lexus luxury brand. Separate figures for Daihatsu showed its worldwide sales plunged 54% in April.

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