Toyota’s sales in China
In May, Toyota Motor (TM), the largest Japanese automaker, reported a YoY (year-over-year) increase of 8.6% in its China sales to 122,400 vehicle units. In April, its Chinese sales rose 9% YoY to 117,900 units.
By comparison, Toyota’s US sales fell 1.3% YoY to 215,321 units in May, still much higher than its Chinese market sales. Toyota’s US truck sales have increased YoY in 15 of the past 16 months, which has helped it expand its profitability.
Honda’s China sales in May
Unlike Toyota, Honda reported a YoY fall of 15.3% for its May sales in China. It sold 99,263 vehicle units, which was much lower than the 153,069 units it sold in the US market. In April, Honda’s sales in China fell 8.8% YoY.
According to a recent Reuters report, quality-related issues for its CR-V sports utility vehicle could be one of the reasons Honda’s May sales declined in China.
In 2017, Honda’s China sales were 1.4 million units, which was higher than its Japanese peer Toyota with sales of 1.3 million units.
In the next part, we’ll look at Fiat Chrysler’s European market sales in May.