Toyota's March sales decline for the second consecutive month: Dragged down by weak Middle East demand and RAV4 model update

Golden Ten Data, April 27｜Toyota Motor announced on Monday that due to a sharp decline in Middle East market sales and adjustments related to the changeover of its popular SUV model RAV4, the company's global car sales in March fell year-on-year for the second consecutive month. Global sales for the month dropped 7.3% year-on-year to 897,871 units; overseas sales decreased by 7.2%, and domestic sales in Japan fell by 7.8%. The statistics include Lexus, Toyota's luxury brand. Regionally, Toyota's sales in the Middle East plummeted by nearly one-third in March, sales in the US market dropped by 8.5%, and sales in the Chinese market fell by 8.0%. The Middle East is not a core market for Toyota, with sales in the region around 34 thousand units in March, and Toyota did not provide a specific explanation for the sharp decrease in local sales. Several car manufacturers have stated that car demand in the Middle East continues to weaken, affected by the US and Israeli conflict with Iran impacting navigation through the Strait of Hormuz and overall economic activity.