Middle East Conflict Impacts Production, Toyota Sees Another Sales Dip in May
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Author:小编   

On June 29, reports surfaced indicating that Toyota Motor Corporation has witnessed a sales decline for four consecutive months, a trend attributed to the ongoing turmoil in the Middle East and escalating market competition. On Monday, Toyota revealed that its global sales in May (inclusive of its subsidiary, Daihatsu Motor) witnessed a 7.4% year-on-year decrease, totaling 885,207 vehicles. Concurrently, global production plummeted by 5.8%, reaching 857,765 vehicles. Despite the recent agreement between the US and Iran, the navigation through the Strait of Hormuz has only seen a gradual resumption, with recurrent incidents of ship attacks persisting. This situation underscores the significant reliance of global automakers, such as Toyota, on the Middle East's logistical corridors and energy-intensive supply chains. For Toyota, a company that has long held a leading position in global sales, these risks pose a threat to the profit record it achieved in the previous fiscal year.