Toyota sales hit third monthly record on Japan and U.S. demand

Japan Times

6 hours ago

Toyota's sales reached a third straight monthly record in May on strong demand for hybrid vehicles in the United States, Japan and China, even as global automakers braced for big losses triggered by U.S. President Donald Trump's tariffs on imported cars.
Toyota's global sales — including subsidiaries Daihatsu and Hino — reached 955,532 vehicles last month, up 8% from a year earlier, the company said Friday. Worldwide production came in at 906,984 units.
Toyota and its Lexus brand vehicle sales rose more than 4% in Japan, 7% in China and 11% in North America.
The world's biggest carmaker will raise the prices next month of some vehicles it sells in the U.S. by more than $200, as part of a regular revision based on factors that include market conditions and competition, a spokesperson said last week.
The move came after Mitsubishi Motors announced it was hiking U.S. prices for three models. Major automakers have been scrambling to minimize the fallout of the trade war between the U.S. and China.
Japan's biggest carmakers, which rely heavily on the U.S. market, are facing billions in losses should Tokyo's negotiations with the White House fail to lower tariff levels.
Toyota said in May that it was expecting a ¥180 billion ($1.2 billion) hit from tariffs in April and May alone. Nissan and Honda both forecast a $3 billion impact, while Subaru and Mazda withheld their annual profit guidance for the fiscal year ending March 2026.
Honda's global sales were down 4% in May to 298,167 units, while production fell 6%, the company said Friday.
Nissan sold 256,159 units last month, a 6% drop from last year, as output fell almost 17% to 229,645 units.
Japan's chief trade negotiator Ryosei Akazawa said Thursday that the nation can't accept Trump's 25% auto tariffs. Japanese automakers produce roughly 3.3 million cars annually in the U.S., Akazawa said, which is much more than the 1.37 million they ship there.
Earlier this month, Toyota Chairman Akio Toyoda was reappointed with 97% of voted shares during the company's annual general meeting. After a three-year slump in investor support, the rebound signaled a tacit approval of the carmaker's steady performance through a particularly tumultuous period for the global automobile industry.