Toyota's sales decline in Japan and China due to electric vehicle competition, recalls, and scandals.
Toyota's sales have declined in Japan and China due to increased competition from electric vehicle brands, domestic scandals, and recalls. In Japan, sales dropped 8.5% in September and nearly 17% from January to September, impacted by Prius recalls and safety certification issues. In China, output fell almost 18%. Global production decreased by 7%, marking the first drop in four years, while global sales fell 2.8%. However, electric vehicle sales rose 32.5% worldwide.
October 30, 2024
12 Articles