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On September 27, Toyota announced its global production and sales in August. According to the data, Toyota sold 888689 vehicles worldwide in August, down 3.7 per cent from a year earlier, including 149636 in Japan's home market, down 9.6 per cent from a year earlier, and 739053 in overseas markets, down 2.4 per cent from a year earlier. As of August, Toyota's global sales in 2024 were 6976035, down 3.9 per cent from a year earlier, with Japan's home market falling 25.3 per cent and overseas markets up 1.9 per cent.

In terms of the global market, Toyota sold 149636 vehicles in Japan in August, down 9.6% from a year earlier. The decline was due to the suspension of production of the Prius and certification problems that led to the suspension of production of the Corolla Fielder, Axio and Yaris Cross. In other markets, Toyota has seen an unusual decline in North America, with sales of 225398 vehicles, up 2.8 per cent from a year earlier, including 198401 in the US, up 2.9 per cent from a year earlier. Toyota also grew in Europe, where sales rose 0.5 per cent to 72970, with France, Italy, Germany and Spain all growing, with the biggest increase in France, up 17.5 per cent to 8638.

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. Toyota sold only 268993 vehicles in Asia in August, down 8.3 per cent from a year earlier, including 152065 in China (including Hong Kong), down 13.5 per cent from a year earlier, according to the data. Toyota said that the continuing severe market environment, including increased price competition, led to a decline in sales. Toyota has fallen not only by 8.6% in sales in China so far in 2024, but also by 17.7% in terms of production, making it one of Toyota's worst-performing regional markets.

According to retail data, Toyota sold more than 10,000 models in China in August, namely RAV4 Rongfang, Carola Ruifang, Feng Landa, Camry and Wellanda, with sales of 16387, 16169, 15994, 15142 and 11101 respectively, all of which were up from July. Carola, Asian Dragon and Sena were 9578, 9264 and 8107 respectively. However, models such as the Carola, Camry and Rongfang have been seen as strong areas for Toyota in market segments, but they are becoming less competitive in key market segments as their own brands accelerate their counterattack against joint venture brands.

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 improvement 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. 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.

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