Toyota Motor said global vehicle sales slipped for a fourth consecutive month in May, as decreases in China, the US and the Middle East weighed on results.
The Japanese automaker did not disclose the exact sales volume or percentage decline for May in its statement Monday. Toyota has faced intensifying competition from domestic automakers in China, its largest single market, while demand in North America has shown signs of cooling.
The four-month slide across Toyota's three largest markets increases pressure on the company's production planning. Toyota's next monthly sales report, expected in late July, will show whether the trend extends into a fifth month.
The sustained decline raises questions about Toyota's ability to maintain its full-year production targets. Investors will look for management's assessment when the company reports first-quarter earnings, expected in August.
This article is for informational purposes only and does not constitute investment advice.