uploads/2018/10/7-10.png

Toyota Posted Solid China Sales despite a Weak Industry

By

Updated

Toyota’s China sales

According to the data compiled by MarkLines Data Center, Toyota (TM), the largest Japanese automaker, reported a solid YoY (year-over-year) increase of 17.7% in its September China sales to ~140,000 vehicle units. In August, the company’s Chinese market sales rose 22.6% YoY to 133,000 units.

In comparison, Toyota’s US sales fell by 10.4% YoY to 203,098 units in September, still much higher than its Chinese market sales. Toyota’s September sales volume in the United States was higher than Ford’s (F) 197,404 units. This was the third consecutive month in which Toyota reported higher US sales than Ford.

Toyota’s 2017 global vehicle sales ranked third after the Renault-Nissan Alliance and European auto giant Volkswagen (VLKAY), but higher than General Motors (GM). Now, let’s take a closer look at Japanese auto giant Honda’s (HMC) September China sales data (IYK).

Article continues below advertisement

Honda’s China sales disappointed

Unlike its home market peer Toyota, Honda Motor reported a YoY drop of ~6.0% in its September China sales. Last month, the company sold about 132,755 vehicle units in China, which was nearly flat compared to 132,668 units sold by HMC in the US market. In August, the company’s China sales fell ~9.9% YoY.

The quality issues related to Honda’s CR-V SUV has been one of the reasons for a decline in Honda’s China sales in 2018 so far. According to Reuters, “In early March, Honda decided to halt new sales of its CR-V and noted the company might have to do the same with the Civic after a Chinese quality watchdog rejected the automaker’s plan to recall 350,000 of the cars to fix the problem.” 

In 2017, Honda’s China sales reached 1.44 million units, much higher than Toyota’s 1.29 million units.

Continue the next part where we’ll look at Fiat Chrysler’s sales in Italy in September.

Advertisement

More From Market Realist