Toyota Motor Corp reported a 4.7 percent year-on-year increase in global sales for the April-September period, reaching a record 5,267,216 vehicles despite higher U.S. tariffs imposed by President Donald Trump. Strong demand for hybrids drove growth in North America and China. Including subsidiaries, sales hit 5,643,042 units.
Toyota Motor Corp announced on Monday that global production for the April-September period rose 6.0 percent to 4,985,122 vehicles, with domestic output climbing 3.4 percent to 1,585,622 units, aided by recovery from last year's certification scandal. In the United States, sales surged 11.3 percent to 1,295,606 vehicles, fueled by strong hybrid demand following recall-related stoppages. In China, sales increased 5.5 percent to 914,342 units amid price competition and a shift to electric vehicles, thanks to demand for new EV models and hybrids. Domestic sales, however, dipped 0.4 percent to 713,967 units due to an ongoing Prius hybrid recall recovery.
For September, global sales rose 3.1 percent to 879,314 vehicles, marking the ninth straight monthly increase, while output jumped 11.1 percent to a record 918,146 units. Including subsidiaries Daihatsu and Hino, September sales grew nearly 3 percent to 949,153 units, with production up 9 percent to 1,036,106. Toyota and Lexus brand sales rose more than 14 percent in the U.S., but fell slightly in China (1 percent) and Japan (5 percent). In China, where domestic makers like BYD dominate, Toyota has stabilized through its bZ3X electric vehicle and hybrid models, though the market shrank after subsidy endings.
The Trump administration imposed a 27.5 percent tariff on foreign cars in April, negotiated down to 15 percent for Japanese vehicles in September, casting a shadow on profits. Toyota forecasts a 44.2 percent drop in net profit to 2.66 trillion yen ($17 billion) for the fiscal year through March 2026, despite cost-cutting and higher-margin sales. To counter U.S. tariff challenges, the company aims to reduce North American reliance by expanding in China and other Asian markets. Its full-year sales record stood at over 10.3 million units in fiscal 2023, with 80 percent overseas.