AutoBeta(AutoBeta.net)07/30 Report--

On July 30, Toyota announced its global production and sales in June. According to the data, Toyota sold 912971 vehicles worldwide in June, down 5.8 per cent from a year earlier, including 161389 in Japan's home market, down 14.1 per cent from a year earlier, and 751582 in overseas markets, down 3.8 per cent from a year earlier. As of June, Toyota's global sales in 2024 were 5162442, down 4.7 per cent from a year earlier, with the local Japanese market down 32.0 per cent and overseas markets up 3.1 per cent.

It is understood that this is Toyota's sales decline for the fifth month in a row. According to previous data, Toyota's global sales fell 9.5 per cent year-on-year in May, 0.5 per cent in April, 2.1 per cent in March and 7.0 per cent in February, the first year-on-year decline since January 2023.

In terms of the global market, Toyota sold 161389 vehicles in Japan in June, down 14.1% from a year earlier. The decline was due to a loss in the first half of the year due to the suspension of production of the Prius and certification problems in Corolla Fielder, Axio and Yaris Cross. In other markets, Toyota has seen an unusual decline in North America, with sales of 225398 vehicles, down 1.6 per cent from a year earlier, including 193120 in the US, down 1.2 per cent from a year earlier. Toyota grew in Europe, where sales rose 2.7 per cent to 105861, with growth in the UK, Italy, Germany and Spain, with the biggest increase in Italy, up 15.7 per cent to 12331.

Compared with the two major markets, Toyota is locked in an "uphill battle" in Asia, which is the main source of the decline in Toyota's global sales. According to the data, Toyota sold only 269317 vehicles in Asia in June, down 7.2% from a year earlier, including 152052 in China (including Hong Kong), down 12.9% from a year earlier, but up from May. Toyota said that despite the launch of new sales activities, the severe market environment such as increased price competition continued and declined compared with the same period. According to retail data, Toyota sold more than 10,000 models in China in June, namely, Fenglanda, RAV4 Rongfang, Weilanda, Corolla Ruifang and Camry, with sales of 21951, 16432, 16161, 12369 and 12281 respectively, all up from May. Corolla, Sena and Hanlanda were closely followed by 8870, 8099 and 7054 respectively.

I have to admit that Toyota's future in the Chinese market is worrying. Since the beginning of this year, BYD's strategy of "electricity is cheaper than oil" has made new energy vehicles quickly occupy the mainstream of the market. Under the impact of this powerful wave, the fuel vehicles dominated by Toyota gradually lose their former luster and face the risk of being replaced by the market.

From the perspective of product layout, although Toyota's fuel vehicle technology is mature, it seems somewhat inadequate under the general trend of energy transformation, and the field of new energy vehicles is almost blank. With the penetration of new energy vehicles in the Chinese market exceeding 50%, consumers are becoming more and more receptive to new energy vehicles, while Toyota has been unable to launch competitive new energy products for a long time. This makes Toyota's space in the Chinese market getting smaller and smaller, and its competitiveness is gradually weakening. In the face of the fierce competition of new energy vehicles, Toyota has to adopt a price reduction strategy to try to find a chance in the market.

For the current Toyota, if it wants to maintain its position in the automobile market, it needs deep reflection. The development of the automobile industry is changing with each passing day, and the speed of technological innovation and market demand change is dizzying. Toyota, as an automobile enterprise with profound history, its strong technical strength and brand influence can not guarantee that it will always be in an invincible position. Only by making continuous progress and innovation, can it survive and develop in the fierce competition.

Of course, we can't ignore Toyota's growth in other markets, including North America and Europe. However, these increases do not obscure the challenges facing Toyota in the global market, where Toyota's sales are likely to be hit by the rapid expansion of its own brands in regions such as Southeast Asia, the Middle East and South America.

2024 is the key year for new energy automobile enterprises to gain a firm foothold, and the competition is destined to be very fierce. With the rapid increase of the penetration of new energy vehicles, the scale of the traditional fuel vehicle market has gradually shrunk, and the contradiction between the huge traditional production capacity and the shrinking fuel vehicle market has become more intense.

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