Iran seeks Japanese help in rebuilding war-damaged oil sector
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Toyota Motor (TYO: 7203) said on May 28 that exports from Japan to the Middle East plunged 91.7% in April from a year earlier to 2,418 vehicles, as conflict in the region disrupted demand, Kyodo News reports.
The world’s largest carmaker by sales volume reported a 3.1% fall in global sales to 849,306 vehicles, marking a third consecutive month of decline. Global production rose 2.0% to 831,971 units, a record high for the month.
Overseas sales dropped 7.5% to 699,382 vehicles. Sales in the United States fell 4.6% to 222,378 units despite continued strong demand for hybrid vehicles in North America.
Middle East sales declined 33.7% to 31,360 vehicles. Sales in China dropped 25.4% to 106,479 units amid intensifying competition.
Domestic sales in Japan rose 24.2% to 149,924 vehicles, supported by demand from consumers who delayed purchases ahead of the abolition of the environmental performance tax at the end of March.
Toyota’s overseas production increased 3.8% to 567,578 vehicles, also a record for April. Output in India surged 38.5% to 33,770 units due to increased operating days.
Production in North America fell 3.3% to 198,098 vehicles, while domestic output edged down 1.7% to 264,393 units.
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