Toyota’s sales in China in November have fallen 22.1%, due to the territorial dispute between China and Japan.
Today, December 3rd, Toyota announced that it sold in China 63,800 vehicles in November, compared with 81,800 vehicles sold in November 2011. From January to November the automaker sold 749,600 vehicles, a decrease of 3.3% compared with the same period last year.
Although the sales decline last month was smaller compared with September and October, the sales rate was still “far off from our more normalized and targeted sales pace,” said a senior company executive. In September Toyota’s sales dropped almost 50%, while in October the automaker saw a drop of 44%.
Toyota’s target for this year was to sell 1 million vehicles, which means it had to sell more than 83,000 vehicles per month to achieve its goal. According to HIS Automotive, automakers from Japan will see production cuts in 2014 and are expected to lose a combined 650,000 units in vehicle output, if the tensions between the two nations don’t stop.
“This is worse than we had expected and it shows how serious the backlash from Chinese consumers was,” said analyst Lin Huaibin. “Sales have started to pick up in November and with some carmakers such as Honda introducing new models, the worst may be over for the moment.”