Toyota logs record global sales despite Trump tariff turmoil
Toyota's global sales — including that of subsidiaries Daihatsu and Hino — rose 7.4% to more than 5.5 million units between January and June, the company said Wednesday. That's mostly due to strong demand in the U.S., Japan and China. Production grew 8.8% to 5.5 million units during the period, including a nearly 20% jump in domestic output.
The carmaker's sales were bolstered in the early part of the year by a last-minute rush from customers to lock-in purchases before Trump's threatened 25% tariff on car imports.
While that sparked uncertainty across the global auto sector, Japan's carmakers may be better placed than rivals following a trade pact reached this month that will see just a 15% duty on vehicles imported to the U.S.
The U.S. is the biggest export market for Japanese carmakers, with $40.8 billion worth sold there last year and additional models imported from factories in Canada or Mexico. Toyota, which was set to face the biggest hit from tariffs among its peers, has said it hopes for improved ties between the U.S. and Japan, and called for further reductions in duties.
The carmaker said that in June, global sales rose 2.7% to 937,246 units. Production increased 7.7% to 963,455 units.
While a rebound in the popularity of hybrids has helped its bottom line, Toyota and other legacy brands face intense competition from a wave of electric vehicle makers, led by Elon Musk's Tesla and China's BYD. Toyota has sold about 82,000 battery EVs so far this year, almost all of which were delivered to customers outside of Japan.
Meanwhile, Honda said sales in June fell 8% to 285,479 units, while production was almost flat compared with a year earlier. Nissan's sales fell 5% last month to 262,133 units.
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