Toyota global sales in May up 6.9%, record for month
NAGOYA (Kyodo) -- Toyota Motor Corp. said Friday its global sales for May rose 6.9 percent from a year earlier to 898,721 units, a record high for the month, due to last-minute demand in the United States amid concerns over possible price hikes due to high tariffs imposed by U.S. President Donald Trump.
Meanwhile, global production dipped 0.7 percent to 806,677 units, falling below the same period the previous year for the first time in five months.
The United States raised the tariff rate on imported passenger vehicles by 25 percentage points to 27.5 percent in early April, with Tokyo and Washington holding multiple rounds of talks to negotiate an agreement.
By region, sales in the United States grew 10.9 percent to 240,176 units. Those in China were up 6.8 percent to 149,887 units, with hybrid vehicles especially sought after due to government subsidies.
Domestic sales climbed 4.4 percent to 106,586 units on a rebound from the previous year when Toyota was hit by a verification scandal. The launch of new models including the Land Cruiser 250 series also helped lift sales in the country.
The automaker said production in the United States dropped 1.8 percent to 120,539 units due to one fewer working day. Domestic output fell 5.4 percent to 241,570 units.
Honda Motor Co., the country's second-biggest automaker, also benefited from greater demand in the United States in May, with sales up 6.5 percent from the previous year to 135,432 units.
But globally, sales slumped by 4.1 percent to 298,167 units, with those in China logging its 16th consecutive monthly decline on fierce price competition.
Meanwhile, Nissan Motor Co., which is struggling to turn around its business and undergoing restructuring, saw global output decline 16.5 percent to 229,645 units and global sales slip 6.0 percent to 256,159 units.
The company earlier this week said it forecasts a net loss of 200 billion yen ($1.38 billion) for the April-June period, weighed down by effects of the U.S. tariffs.
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