Toyota reported a 3.1% decline in global vehicle sales for August, primarily driven by weak sales in Japan and China. However, the company saw an increase in the US market, thanks to the popularity of the new Camry. Toyota’s EV sales continued to grow, with a 23% increase compared to August 2023.
Mazda Canada Inc. (MCI) announced record August sales, achieving a 57.4% increase compared to August 2023. The strong performance was fueled by the popularity of its SUV lineup, particularly the CX-5, CX-50, and CX-90 models, which all saw significant sales growth. Year-to-date sales also saw a substantial increase of 26.6% compared to the same period last year.
Toyota, the world’s top-selling automaker, has experienced a 10% decline in sales in China, Hong Kong, and Macau during the first seven months of 2023. The company attributes this drop to fierce price competition and challenging market conditions. Despite implementing sales enhancement measures, Toyota struggled to match last year’s figures. This decline comes as the Chinese EV market witnesses intense competition with price wars impacting profit margins.
