Toyota saw sales decline in March as demand slipped for its best-selling RAV4 ahead of the refresh of the sports utility vehicle, while the conflict in Iran threatens to cut off key supplies and force manufacturers to dial back production.
Global sales in March ¡ª including those of subsidiaries Daihatsu and Hino ¡ª fell 5.8% from a year earlier to 983,126 units, the company said Monday. So far, the company has been able to keep churning out cars, with worldwide production climbing 3.9% to 1.02 million units.
The numbers show how the world¡¯s biggest carmaker has been able to remain on track despite turmoil in the Middle East, which has raised the price of aluminum and other raw materials and the underlying costs for automobile parts. Production may be due for further declines, with Japanese carmakers depending on the region for roughly 70% of their aluminum.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.