Toyota reports faster than expected sales recovery

Companies & MarketsNews
September 1, 2020

September 1, 2020

Toyota Motor Corporation has announced that its global sales and production recovered to 90% of the previous year’s level in July, and that sales are recovering at a ‘faster than expected pace’ reports

The automotive company has reported that its global sales in July were down 12% from the previous year, recovering at a faster than expected pace. Toyota believes that the recovery is being driven primarily by China (up 19.1%), with Europe up 14.5% but the USA down 19% and Japan down 17%.

Toyota’s June figures showed that China was up 22.8%; the USA was down 26.2%; Europe was down 11.5%, and Japan was down 22.7%. Global production in July was down 10.2% from the previous year (from down 24% in June). Toyota’s production in the USA and China exceeded the previous year’s levels, and domestic production likewise recovered to 78% of the previous year’s level.

Strong sales of RAV4 and Camry pushed up sales exceeding last year’s level with July up 31.3% and June up 21.6%. Strong sales of light trucks, as well as of Camry and Highlander HEV and other electrified vehicles, resulted in sales exceeding last year’s level.

July was down 22% and June was down 44.8%.

Toyota stated that global market recovery resulted in sales performance as planned.

Companies & MarketsNews
September 1, 2020

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