Toyota and its Lexus brand have experienced significant sales growth, with a more than 4% increase in Japan, 7% in China, and 11% in North America.
According to a recent report by Bloomberg, Toyota Motor Corp.’s global sales, including its subsidiaries Daihatsu Motor Co. and Hino Motors Ltd., reached 955,532 vehicles in the previous month, an 8% increase compared to the same period last year. The company’s global production also increased, reaching 906,984 units.
The strong demand for hybrid vehicles in the United States, Japan, and China has contributed to Toyota’s third consecutive monthly sales record.
However, the report also notes that the major Japanese automakers, who are heavily dependent on the U.S. market, may face billion-dollar losses if negotiations with the White House do not result in a reduction in tariff levels.
In May, Toyota announced that it expects losses from tariffs to be around 180 billion Japanese yen (approximately $1.2 billion) in April and May alone. Other Japanese automakers, such as Nissan Motor Co. and Honda Motor Co., have also projected losses of around $3 billion due to the tariffs.
In contrast, the report shows that Toyota’s global sales in May increased by 4% in Japan, 7% in China, and 11% in North America. This growth, coupled with the company’s impressive performance in April, where it achieved a new monthly sales record, demonstrates Toyota’s ability to navigate the challenging market conditions.
The news highlights Toyota’s resilience and its ability to capitalize on the growing demand for hybrid vehicles, even amidst the potential challenges posed by trade tensions and tariffs.