Toyota’s November Sales in China Drop 12%

Toyota Motor Corporation announced on December 25th that its global sales (including Lexus) for November totaled 900,110 units, a 2% year-on-year decrease, marking the first decline in 11 months. The Chinese market saw a 12% drop in sales, primarily due to factors such as reduced government subsidies and the replacement of key models. The US market, however, maintained steady sales.

Toyota’s overseas sales in November reached 769,789 units, a 3% year-on-year decrease. US sales increased by 3% to 212,772 units, with hybrid vehicles (HVs) continuing to perform well. Exports from Japan to the US increased by 17% to 56,992 units. Toyota expects to incur approximately ¥1.45 trillion in tariff costs in the fiscal year ending March 2026, including costs borne by parts suppliers.

Sales in the Chinese market declined by 12% to 154,645 units. Toyota previously launched promotional measures in conjunction with Chinese government subsidies, maintaining higher sales levels than the previous year from February to August 2025. However, sales have begun to slow as the policies have been reduced. With the new SUV “RAV4” about to be launched, there seems to be an increasing trend of consumers postponing their car purchases.