Key Points
- Toyota’s global production fell 6.2% in November, marking a 10-month decline.
- U.S. production dropped 11.8% despite resumed SUV manufacturing in late October.
- China’s output fell 1.6%, with improved sales of minivans and the bZ3 electric sedan. Toyota plans to build a Shanghai plant for Lexus EVs by 2027.
- Japan’s production declined 9.3%, partly due to plant stoppages. Global sales rose 1.7% in November, setting a new monthly record.
Toyota Motor’s global production declined for the 10th consecutive month in November, with the world’s largest automaker reporting a 6.2% drop to 869,230 vehicles compared to the same month last year. This decline is sharper than October’s 0.8% decrease. Despite these setbacks in manufacturing, Toyota’s global sales climbed for the second consecutive month, increasing by 1.7% to 920,569 vehicles, setting a new record for November.
Toyota’s production fell by 11.8% in the United States, reflecting a slow recovery. The resumption of Grand Highlander and Lexus TX SUV production in late October, after a four-month halt, contributed to mitigating further declines. In China, output dropped by 1.6%, showing improvement from the previous month’s 9% decrease. Increased local sales of the Granvia and Sienna minivans and the bZ3 electric sedan—developed in partnership with BYD—bolstered regional performance.
Amid growing competition from BYD and other Chinese brands, Toyota plans to strengthen its electric vehicle strategy in China. According to a Nikkei report, the automaker will build an independent Shanghai plant by 2027 to produce electric cars for its Lexus luxury line.
Japan, contributing approximately a third of Toyota’s global production, saw output drop by 9.3% in November. This was partly due to a two-day production halt at the Fujimatsu and Yoshiwara plants.
From January to November, Toyota’s global production decreased by 5.2% year-over-year, totaling around 8.75 million vehicles. During the same period, global sales declined by 1.2%. These figures encompass Toyota’s Lexus brand vehicles but exclude those produced by its group companies, Hino and Daihatsu. However, Toyota’s efforts to adapt to changing market dynamics, particularly in the EV segment, signal a proactive approach to sustaining growth amid increasing competition.
