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Japanese Automakers’ Chinese Sales Fell in February 2018

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Toyota’s Chinese sales

In February 2018, Toyota Motor (TM), the largest Japanese automaker, reported a year-over-year (or YoY) fall of 6.3% in its Chinese sales to ~77,000 vehicle units. In January, the company’s Chinese market sales rose 24.5% YoY.

In comparison, Toyota’s US sales stood at 182,000, much higher than its Chinese market sales at a ~4.5% YoY increase. February was the fourth of the last six months during which the company reported YoY strength in its US sales.

Toyota’s 2017 global vehicle sales were in third place after Renault-Nissan Alliance and European auto giant Volkswagen (VLKAY), but they were higher than those of US automaker General Motors (GM).

Now, let’s take a closer look at the Chinese sales data (IYK) of another Japanese auto giant, Honda Motor Company (HMC), in February 2018.

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Honda’s Chinese sales in February 2018

Like its home market peer Toyota, Honda also reported a YoY fall of ~5.9% in its February 2018 Chinese sales. The company sold ~77,000 vehicle units in China last month, fewer than the 116,000 units it sold in the US market. In January 2018, the company’s Chinese sales rose ~10.9% on a YoY basis.

Toyota’s and Honda’s weaker February Chinese sales can primarily be attributed to industry-wide sales weakness in the month.

In 2017, Honda’s Chinese sales were 1.4 million units, much higher than its Japanese peer Toyota’s 1.3 million units.

Continue to the next article, where we’ll find out how Fiat Chrysler’s European market sales were in February 2018.

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