Toyota Motor Corporation revealed on Thursday that its global sales, including Toyota, Daihatsu and Hino, decreased by 2.0% in May on an annual basis to reach 888,491 units. Sales in Japan alone nosedived by 20.5%, while foreign sales rose by 2.0% compared to the corresponding month a year earlier. According to the company’s release, global production worsened by 5.0% on a yearly basis, standing at 900,195 units. Output in the home country decreased by 0.4%, and slumped by 7.2% outside of Japan. Exports fell 11.6% in the fifth month of 2024 on an annualized basis to 129,529 vehicles. The company’s car sales fell for the fourth consecutive month due to intensified competition in the Chinese market and the suspension of Prius deliveries following the recall in Japan. Nevertheless, there was a boost in sales in North America and Europe, which helped to offset the impact on overall global sales. NN: Easy to get this wrong. Its the start of the global economic low down.