Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Toyota's April global sales rise on stronger demand in Japan, China

Published 05/30/2023, 12:31 AM
Updated 05/30/2023, 12:35 AM
© Reuters. FILE PHOTO: The Toyota logo is seen at its booth during a media day for the Auto Shanghai show in Shanghai, China April 19, 2021. REUTERS/Aly Song

TOKYO (Reuters) - Toyota Motor (NYSE:TM) Corp's global sales rose by nearly 5% in April from a year earlier, boosted by stronger demand for hybrids and gasoline-powered cars in Japan and China.

The Japanese automaker also reported better overseas sales of battery electric vehicles (EVs), bringing the total number of battery-powered units it sold in the first four months of the year above last year's level.

Toyota in April sold 800,863 vehicles globally, including its luxury Lexus brand, a 4.9% increase compared to the same month last year when sales suffered heavily from pandemic-induced parts supply shortages.

Sales of hybrids like the new Prius in Japan posted a strong 59.2% year-on-year jump to make up just over half of the 125,326 vehicles sold in the company's home market last month, outpacing a 21.5% rise in its overall domestic car sales.

In China, Toyota saw sales jump 46.3% to 162,554 units in April compared to the same month a year earlier, rebounding from the previous year's pandemic-related hit.

In April, the automaker sold 8,584 battery EVs worldwide, including its Lexus brand, accounting for more than 1% of its global sales in a single month for the first time.

That brought the total number of battery-powered vehicles it sold in January-April to 26,057 units, higher than the 24,466 battery EVs the company sold in 2022.

Latest comments

Toyota has always been criticized for being slow and backward in the new energy transformation, especially in the Chinese market. BYD is new forces in auto manufacturing, which unassailably gets ahead of Toyota. Then the sales have also begun to catch up, indicating that demand is exploding. With the explosion of car sales, the next outbreak is charging demand, as NAAS (NASDAQ: NAAS), a leading charging company, will definitely benefit.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.