On June 29, Toyota Motor Group announced its global production and sales report for May 2023. According to the data, in May 2023, Toyota's global sales volume was 838,500 vehicles, up 10.11% year-on-year, which is its fourth consecutive month of positive year-on-year growth. Among them, domestic sales in Japan increased by 35.14% year-on-year to 117,000 units; overseas sales increased by 6.90% year-on-year to 721,500 units.
In terms of output, in May 2023, Toyota's global output increased by 33.39% year-on-year to 847,000 units, which was the year-on-year growth for five consecutive months, among which, Japan's domestic output increased by 72.18% year-on-year to 248,300 units; overseas output increased by 22.0% year-on-year to 598,700 units.
From the above global production and sales data analysis, it means that Toyota achieved year-on-year growth in both output and sales in May. As for the increase in production and sales data in May, Toyota said it was mainly affected by the expansion of new coronavirus infection and tight semiconductor supply and demand in the previous year, which has improved in this period, with global sales and output exceeding the previous year's level.
In terms of segmentation, Toyota sales in China have also increased in addition to growth in Japan's home market and overseas markets. According to the data, Toyota's sales volume in China in May 2023 was 162,400 vehicles, with a year-on-year growth of 9.3%, achieving growth for two consecutive months, among which FAW Toyota's sales volume increased by 2.3% year-on-year and retail sales exceeded 70,000 vehicles; GAC Toyota grew 10.7 per cent year-on-year, with retail sales of 77,500 vehicles. However, Toyota's high-end Lexus brand has experienced several year-on-year declines. Lexus import sales fell 1 per cent year-on-year to 13,600 vehicles in May, compared with a 24 per cent year-on-year decline to 54131 vehicles in the first five months of this year, according to the association. For Lexus sales successive decline reasons, Or with the current fuel vehicles gradually to electric vehicles related to the transformation, But industry personage thinks: "Although Lexus is also in the transformation to electric, But always can not get the market wide recognition."
So far, Honda and Nissan have also released global production and sales data. According to the data, in May 2023, Honda's global production increased by 35% year-on-year to 329,100 vehicles, increasing for three consecutive months; global sales increased by 24% year-on-year to 325,600 vehicles. Nissan's global production rose 19% year-on-year to 274,600 units; global sales rose 19% year-on-year to 274,500 units.
According to the plan, Toyota's global production and sales target in 2023 will exceed 10 million vehicles. According to the current Toyota sales situation, Toyota wants to achieve this target under great pressure, but from the overall Japanese brand point of view, Toyota's larger market sales situation is better than Honda and Nissan. In the domestic market, although Toyota has made a lot of efforts in electric transformation, Toyota electric vehicles have a very small share in the auto market. With the rapid increase of penetration rate of new energy vehicle market, the gap between Toyota and domestic brands and other joint venture brands in new energy track is becoming more and more obvious.
In April, Toyota's new president, Hisashi Sato, said he planned to launch 10 new pure electric models by 2026 and set up a new department to focus on R & D and production of pure electric vehicles, with the goal of annual global sales of 1.5 million vehicles by 2026. In China, Toyota will launch two pure electric vehicles developed locally in China in 2024.
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