Toyota sets new record in global vehicle sales for FY2025
Toyota Motor Corp. said Monday that its parent-only global vehicle sales reached a record high in fiscal 2025, thanks to the popularity of its hybrid vehicles, especially in the North American market, despite higher tariffs imposed by the administration of U.S. President Donald Trump, JIJI PRESS reports.
Toyota's global sales grew 2.0 pct from the previous year to 10,477,325 units, up for the first time in two years.
Of the total, overseas sales increased 2.7 pct to 9,002,666 units, with North American sales jumping 7.2 pct. Domestic sales fell 2.0 pct to 1,474,659 units, for the second consecutive year of decline.
In March alone, the leading Japanese automaker saw its global sales drop 7.3 pct, as it reduced production amid heightened tensions in the Middle East, including the de facto blockade of the Strait of Hormuz. Sales in the region slumped 32.3 pct from a year earlier.
Toyota is considering alternative shipping routes and export destinations, but if the situation in the Middle East is prolonged, the company's earnings could be impacted.