Toyota Faces Production and Sales Decline Amid Slow EV Transition

The automaker's global output and sales have dropped due to increased competition from Chinese EVs and ongoing recalls.

Toyota's global production fell for the first time in four years, with an 8% decline in September alone.
Sales dropped by 7.4% in September, marking the fourth consecutive month of declining sales figures.
In China, Toyota's production and sales were significantly impacted by intense competition from domestic EV manufacturers like BYD.
Recalls and production suspensions, particularly in Japan and the U.S., have exacerbated the company's challenges.
Despite a rise in hybrid sales, Toyota's slow shift to battery electric vehicles is affecting its market performance.