Despite ending 2023 as the world's top-selling automaker with 11.2 million vehicles sold, Toyota's sales have recently begun to decline, raising concerns about its market position.
Toyota’s sales in September declined by 7.4% year-on-year, and the company faced a 1.9% decrease in total sales for 2024, leading to questions about future growth.
The halt in production of key models due to safety data irregularities has significantly impacted Toyota’s performance in its home market and beyond, reflecting systemic challenges.
In China, where competition is intensifying from local electric vehicle manufacturers, Toyota's sales dropped by 9.2% in September, indicating shifting consumer preferences.
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