Atin Ito First Filipino Community Newspaper in Ontario
Toyota Motor Corp.’s global output in May plunged 54.4 percent from a year earlier amid the COVID-19 pandemic. | BLOOMBERG
TOKYO — Toyota’s global production slid for a fourth straight month in May from a year earlier on lower output in many overseas markets, with the decline in China, where local brands have become much more competitive, particularly sharp.
Output for the month decreased 4 percent to 812,191 vehicles. In China, production fell 22 percent. In addition to strong vehicle offerings from Chinese brands, the world’s biggest car market has been engaged in a fierce price war.
The Japanese automaker also had lower production in markets such as Thailand, Mexico, Brazil and France although the US and Japan saw output grow.
Toyota’s worldwide sales rose just 0.3 percent during the month, with growth in overseas markets such as the United States and Europe offsetting declining sales in Japan and China.
Both sales and production figures include the luxury Lexus brand.
*****
Credit belongs to : www.manilatimes.net
