Toyota Motor Corp. (NYSE:TM) has announced a surge in global sales for the company during July on strong global demand for the company’s vehicles.
Robust Demand In North America
The company announced a surge in global sales for the seventh consecutive month, built on strong demand in North America and increasing EV and PHEV sales in China, data released by Toyota said on Thursday.
"Sales were up year-on-year supported by continued steady demand, such as for the Tacoma and 4Runner, along with strong performance of hybrid vehicles," Toyota shared, along with data about sales in North America.
Global Data, Strong EV Growth In China Despite EV Price War
The company’s global sales surged 4.8% YoY to 899,449 vehicles in July and sold over 6 million vehicles from January 2025 to July 2025, the data said. Cumulative production in July rose 5.3% during July.
For China, Toyota chalked up sales growth to sales of the bZ3X EV and Hybrid vehicles "despite the ongoing severe market environment, including a shift to new energy vehicles and intensifying price competition," amid China's competitive EV price war.
Toyota also said that promotional measures and government subsidies helped the demand as well.
$9.5 Billion Tariff Hit, Toyota's Norway EV Sales
The news comes as Toyota earlier said that it expects a $9.5 billion impact on its profits due to tariffs laid down by the Trump administration. The company also slashed its operating profit outlook by 16% from $25.8 billion to $21.7 billion.
Meanwhile, the company also registered the bZ3X EV in the top ten best-selling electric vehicles in Norway during July, selling over 269 units in the country and claiming the eighth spot.
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