FY2021 Toyota Sales, Production Drop Less than 10%

Global sales in FY2021 were down 4% primarily by lost sales in China, North America, and Japan.

Toyota Motor Corporation says despite the COVID-19 pandemic that began spreading early in 2020, Toyota was able to continue corporate activities through the implementation of various infection prevention measures and by working with partners including suppliers and dealers and focusing on “doing what should be done.”

Toyota’s global sales and production have both been up year-on-year since September 2020, enabling Toyota to limit the year-on-year decline in sales and production to less than -10% in FY2021 ending 31 March 2021. Additionally, Toyota has maintained domestic production at the 3-million-unit level.

Global sales in FY2021 were down 4% primarily by lost sales in China, North America, and Japan. In China, though, sales of new models including the Corolla, Levin, RAV4, and Wildlander, as well as Lexus brand vehicles, were strong, and sales were up 29.6 percent year-on-year during March. Global sales were up 19.1% year-on-year in the January to March 2021 quarter, exceeding initial expectations of ~10%in the January to March quarter at the time of announcement Q3 results. (Herd Immunity? Toyota Motor Reports $9.87 Billion Q3 FY 2021 Profit. Ups Forecast by +54%)

Global production in FY2021 was down 6.4% year-on-year. Production in China was up 30.9% year-on-year. Global production in the January to March 2021 quarter was up 13.8% and has remained solid since April 2020.The global ratio of electrified vehicle sales increased from approximately 20% in FY2020 to approximately ~24% in FY2021. The increase was from sales in Europe, China, and North America. The best-selling Toyota vehicle in FY2021 was the RAV4, with global sales of 1,031,000 units (up 2.4% year-on-year).